Miscellaneous Quotes Part 2 for Week to 2nd June 2017

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BlackRock Inc. CEO Larry Fink on Bloomberg

Expects a disappointing Q2

“Europe will grow as fast as the U.S. if not faster this year, which is a big surprise…I’d say the second quarter is going to be disappointing in terms of earnings and growth. It’d tell me markets are probably fully priced at this moment.”

On Brexit

“Brexit is worse for the U.K. than Europe,”

 

Clemens Fuest President of the ifo Institute

business confidence in germany at an all time high

“The mood among German business was euphoric in May. The ifo Business Climate Index rose from 113.0 (seasonally adjusted) points last month to 114.6 points, the highest figure on record since 1991. Companies upwardly revised assessments of both their current business situation and their business expectations significantly. This development in the ifo index combined with other key economic indicators, points to economic growth of 0.6 percent in the second quarter. Economic activity in Germany remains very brisk.”

 

Morgan Stanley CEO James Gorman on bloomberg

Markets are very unsettlingly quiet

“There is enormous uncertainty which typically would breed tremendous volatility and it’s not…It’s this very passive perspective that investors have and I think the downside risk at this point is outweighing the upside risk.”

The US economy is doing fine

“If you look at it objectively, the U.S. economy is doing fine, not great, but fine…We need progress on some of these legislative programs.”

On China

“The rest of the world would die to have growth rates north of 3 percent, let alone 6 percent. The economy is still doing well, consumption has risen, which is an important domestic driver.”