Quote of the Day

Jefferies' global equity strategist Sean Darby echoes the points we've been pounding home herein:

This Morning's Log Entry: Perplexed

The next few weeks will be hugely telling in terms of second half prospects. While it might seem an exaggeration to describe global business conditions as being in disarray, that’s the word that comes to mind; earnings outlooks will go a long ways toward confirming whether I’m justified in my description.

Quote, and Chart, Of the Day

Per my yesterday blog post "Careful What You Wish For", Macro strategist Cameron Crise and I are on the same page:

This Week's Message: General Conditions Via Our Macro Index (video)

Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust: 

Careful What You Wish For!

Well, as some might say is a good thing, U.S. purchases of Chinese goods plunged 7.8% (year-over-year) in June. However, Chinese purchases of U.S. goods tanked by a huge 31.4%.

Video Commentary On The Latest Action

Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust: 

Quote (from China) of the Day!

The following tweet from Xu Xijin, editor of China's (state-controlled) Global Times newspaper, is consistent with the hunkering down I've been sensing while reading the Chinese media (each evening) the past few weeks: