Initial Guidance | 2 July 2015

● US private-sector job growth accelerated in June via ADP’s estimate…
● As US factory activity rose to a 5-month high in June…
● US construction spending reached a post-recession high in May…
● While mortgage applications in the US fell 4.7% last week…
● Global manufacturing growth eased closer to a 2-year low in June…
● And the Greek crisis lingers as uncertainty and confusion reign supreme with no resolution in sight.