Quote of the day

Josh Brown, ?If the entities in control of trillions of dollars all want asset prices to be higher at the same time, what the hell else should you be positioning for?? (The Reformed Broker also BI)

Chart of the day



Forget IPOs. Companies are issuing bonds and secondaries at a record clip. (WSJ)

Markets

Are we in a bubble? (Crossing Wall Street)

The case for muni bonds. (The Guardian)

More signs of investor enthusiasm for equities. (FT Alphaville, WSJ)

The implied volatility on gold miners is coming down. (Focus on Funds)

Apple

Japan has become a growth market for iPhones for Apple ($AAPL). (WSJ)

On the disconnect between Apple the company and its stock. (Kevin Kelleher)