Headlines discussed at LNWM’s Monday morning briefing:

— The SEC issued new rules on money market fund valuations, allowing for fluctuations in daily pricing.

— Two Federal appeals courts issued contradictory rulings on Affordable Care Act subsidies to pay for health insurance, renewing the battle over Obamacare.

— The IMF cut its 2014 forecast for U.S. economic growth to 1.7%, suggesting interest rates could stay low.

— China’ manufacturing activity hit an 18-month high in July.

— Ukraine’s Prime Minister resigned, adding to uncertainty at a critical time for the region.

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