* Prudential made a failed bid for AIA; nearly 800MM in management fees wasted
* Only 41k jobs created in the US in May, far fewer than expected
* Michael Gordon (BNP Asset Mgmt): Blames exchanges for encouraging high frequency traders; do not help the market ascertain a company's value, don't provide a service
* ECB purchased E750bn government bonds (Greek, Portugal, Ireland); ignored Spain and Italy, who's yields have increased (widest since mid 90s)
* Belgium debt difficult to auction; had to go to 100+bunds compared to 50+ previously
Dampening of Investor Risk Appetite
* geopolitical pressure Asia, Europe
* uncertainly in financial regulation reform
* Gulf of Mexico oil spill
* AIA: AIG Asian insurance business, may be worth $25bn instead of $36bn originally sought
* Decay of infrastructure - $40,000bn needs to be spent over the next 25 years (emerging and developed markets)
* Germany reveals 95bn in spending cuts, cutting 15,000 public jobs
* Much larger than expected factory order increase of 2.8% (revisited up to 5.1%); shows weaker euro is having an effect boosting growth
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