Atlanta Fed president Lockhart says he believes a recovery is underway but that the picture remains quite mixed. He sees a relatively subdued pace of growth through the medium-term. Commercial real-estate exposures could suppress the pace of recovery though he doesn’t believe it poses a broad risk to the financial system.
US equity futures closed at the lower end of their overnight range and await the open of the markets in about 10 minutes. EUR/USD trades with a heavy tone, in the 1.4960s after another stall at 1.2020 earlier in the day. Bids are seen between 1.4950 and 60.
