The chartbook we are publishing today compiles our main takeaways from financial markets during the month of August. In particular, we highlight the relevance of monetary policy in dragging down sovereign bond yields and thereby in the flow of capital into stock markets. Moreover, we give an update on the major residential real estate markets and delve into the reasons behind rising home prices. Finally, we go over China's credit and property market tightening, as well as their relationship to sharp shifts in commodity prices during August.