The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
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Nota WSJ - Overheard: Bad Bearish Bets

Tired of fighting the rally? Citigroup's bullish strategist Tobias Levkovich posits one reason for investors to shake off continued bearishness in some areas of the analyst community. His view: One reason many sell-side analysts have resisted growing evidence that leading indicators for business conditions are turning is that they were badly positioned and have been found out.

According to Levkovich's analysis, the most loved sector as measured by the percentage of "buy" ratings has been defensive pharmaceuticals and biotechnology. One of the least favored has been the bank industry group. On March 2, just before the market bottomed, 23.5% of bank ratings were "buys," against 61.8% for pharma and biotech stocks. As of the end of July, relatively similar percentages remained in place for the two sectors.
Yet, Levkovich points out the Standard & Poor's banks group is up 163% since the intraday March lows, while the pharma and biotech group is up only 24%.

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