Cartoon of the Day: The Financial Market Olympics

1. Total equity market volume was down -7% versus its 1-month average yesterday
2. Gold is up +25% year-to-date
3. Global growth continues to slow
4. The best efforts of central bankers have failed to stimulate global economic growth
5. The earnings recession continues (for Q2 2016, 458/500 S&P 500 companies have reported an aggregate earnings decline of -4.1%)
6. Oil prices continue to fall on bearish fundamentals (and pop on OPEC oil production freeze rumors)

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