Around the World

• Argentina defaults on its debt for the second time in a dozen years Bloomberg
• During July manufacturing activity in China rose by the most in over two years BBC

U.S. Economy

• The economy grew at an annual rate of 4.0% during the second quarter after contracting by an annualized 2.1% during the opening quarter of 2014 The Washington Post
• U.S. manufacturing expanded in July at the fastest pace in three years Fox Business
• U.S. consumer confidence rose to a seven year high The Wall Street Journal
• The Federal Reserve announced it would reduced its bond buying program from $35 billion per month to $25 billion Bloomberg
• The little-known FRED charts that reveal the state of the U.S. economy The Washington Post