1. It’s straight to the markets, which were crushed in the US overnight. We’re just going to throw to Greg McKenna, because he’s been doing some thinking:
The market, traders, and investors are all under acute pressure at the moment. At a macro level we know that uncertainty is poison for short-term thinking, trading and returns. That is exactly where markets find themselves now with the ructions in China and other emerging markets, uncertainty about the global economy, potential deflationary pulse from oil and worries the Fed’s long signaled rate hike could be the trigger for some selling in US and other stocks. Markets exponentially discount the information they have, which means all of that is getting front-loaded to the here and now. But with uncertainty still high, it feeds on itself, which means volatility clusters.
2. On the local, we’re down around 500 points from the early August high, and that includes last night’s futures move. Yesterday’s price action was terrible – a massive 1.7% fall for the ASX200 index. You can blame the banks, energy and miners, all of which were ugly. And futures say it’s not going to be any prettier today.
3. Here’s proof people only live in WA because they’re paid to:
At its peak, the mining boom saw one in three Sandgropers are actually born overseas, and you can make that one in two if you add in interstate
gold-diggers arrivals. Thank the Bankwest Curtin Economics Centre for tracking that relationship.
4. Your weird, awkward dreams. Our anxiety about work often spills over into our dreams. Some are pretty easy to understand – you dream about getting fired because the boss said you keep stuffing up. Others, like that one about having sex with a coworker, don’t necessarily mean you can’t make eye contact with them the next day. Here’s why you’re OK, and he/she’s OK.
5. And even if you don’t leave it at just eye contact, it isn’t necessarily your fault. Science says acting unethically may be a way to reduce levels of stress hormones and alleviate experienced stress. It’s biological! (And so is being a jerk.)
6. A day in the life of a JP Morgan intern. University of Cambridge economics student Sophie is one of hundreds of hopefuls midway through their 10-week summer analyst internship. If she keeps away from the Krispy Kremes, hot yoga and can tear her eyes away from the incredible Canary Wharf view, she might become a high-flying and highly-paid investment banker. She let us shadow her for a day, and it was fascinating.
7. If countries were stock markets. Bank of America Merrill Lynch’s chief investment strategist Michael Hartnett had a bit of spare time on his hands, so he drew this visualisation of the world according to free-float equity market capitalisation:
8. It was a horrible night for the FANGs in the the US. (That’s Facebook, Apple, Netflix, and Google.) But September looks huge for people who actually buy their stuff. Microsoft’s going nuts, releasing a new Surface Pro 4, an updated Microsoft Band two new Lumia phones and possibly a Surface Mini. Apple has reportedly made its new iPhone “indestructible” and has innovated “pink” into “rose gold”. And those crazy reports of Blackberry working on an Android phone are all but confirmed.
9. Upgrade your hotel room. Don’t be shy, just ask, say industry insiders we spoke to about how to get the bigger bed and nice views for free. Most often it really is that simple, but if the front desk is playing hardball, here are a few more strategies our moles suggest.
10. 2015 has been a big year for sharks, and Aussies aren’t even heading for the beach yet. We’ve seen the biggest great white ever filmed, a live attack on one of our surf champs and tragically, a couple of unexpected fatalities. Everyone’s talking about sharks, so get up to speed at a glance.
BONUS ITEM. This:
That’s a grey wolf mum and cubs caught playing in the Californian woods. It’s special, because it’s the first time they’ve been spotted in the state’s wild for nearly a century.
Have a great weekend.
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