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"If you can count your money, you don't have a billion dollars." —John Paul Getty
Macro Notes
German economy shows chinks in its armorPeter Boockvar
As no one is immune to the travails of debt troubled sovereign nations in Europe, the slowdown in Asia and Latin America and mediocre growth in the US, Germany's economic stats today showed chinks in its armor. The May German IFO business confidence # fell 3 pts to a 6 month low and was 2.5 pts less than expected. Also, German mfr'g PMI fell to 45, the lowest since June '09 and this led to the euro zone mfr'g and services composite index to drop also to the weakest since June '09. French mfr'g PMI fell to 44.4 from 46.9...
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