Good piece.
Fears that Brazil’s infrastructure would be overwhelmed have so far proven overblown. There have been some flight cancellations, poor communications at some games and other problems, but the FT’s Brazil bureau chief Joseph Leahy reports that generally things have gone smoothly.
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Nike beat estimates and is trading up 3.6 percent in the after hours session. We picked up a small position thinking it should take out its high at $80.26 in the next few days.
Here’s an interesting breakdown of sales by region and sector. Note, Nike Golf not doing so well, which confirms the same poor performance of the sport over at Dick’s.
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Ralph Atkins, the FT’s capital markets editor, discusses high private sector debt levels in the eurozone with Moritz Kraemer, S&P’s chief sovereign ratings officer. Mr Kramer says Europe is ‘in for the long haul’ on debt deleveraging.
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Global Macro Monitor 