G3 Recap 8-24-11

Main Items:

  • US Capital Goods Orders, Nondefense, Ex-Air declined -1.5% in July vs -1.6% exp and -0.4% prev
  • US DGO Ex Transportation improved to 0.7% in July vs -0.5% exp and 0.1% prev.
  • Moody’s downgraded Japan one notch overnight to Aa3, the same as S&P, with a stable outlook.

Overseas:

  • German IFO Business Climate Index dropped to 108.7 in Aug vs 111 exp and 112.9 prev.

Commentary:

  • None
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