1. New Zealand cuts back growth hopes and the Australian central bank is hardly inspiring either...sounds like low interest rates for longer (link here).
2. Did I see that mortgage affordability is getting worse in the US despite low rates?:
3. In European numbers today I still like Imperial Tobacco but am waiting for the right level for CRH and (frustratingly) for AP Moller-Maersk who provides the chart below (showing why cost reduction - in this case in their key container shipping division - often helps share prices):
4. In global ex-Europe numbers BHP Billiton pays the price of over-sentiment last week (although the detail for the core continuing BHP does sound interesting) whilst Dick's Sporting Goods still feels like a value stock to me.
5. Two interesting charts I came across today. Interesting manufacturing cost ranking (UK stands out positively)...
...and the Euro area dis-inflationary pressures are high: