Positives:

1. Thai Bank earnings across the board are up +20%
2. US June housing starts rises to most since Oct ’08

Negatives:

1. Spanish bond yields spike to euro record high and the government keeps saying they are out of money.
2. Netherlands, France, Belgium, Germany, Switzerland and the EFSF are getting paid to borrow money, signs of more fear
3. Thai Telecoms at risk of 10% excise tax, earnings likely to be impacted 5-10%