Bloomberg:
- Companies worldwide are likely to rebuild inventories through September, spurring a surge in production of goods and services, according to Tim Rocks, an equity strategist at Macquarie Group Ltd. “The largest restocking cycle in living memory is under way,” Rocks wrote. “Production should now bounce.” Transportation, technology and capital-goods companies may benefit most from the recovery, he wrote, as they tend to have “an easing of earnings pressure” in times of inventory growth. Banks and real-estate companies may be in a similar position.
Wall Street Journal:
NY Times:
- London Ponders Its Future as Financial Powerhouse.
CNNMoney.com:
WCBSTV.com:
Politico:
Reuters:
- European Central Bank Governing Council member Ivan Sramko said the bank may have to revise down its growth forecast fort the euro area. “Risks have been identified that it will go further down,” Sramko said.