It just comes down to this macro viewpoint that we’re going into a double-dip recession, and the world’s going to go to hell, and people are going to stop buying iPads and smartphones and computers. That’s kind of a farfetched conclusion.

—Paul Wick, the Menlo Park, California-based manager of the $3.3 billion Seligman Communications & Information Fund: Bloomberg

While we still see a lot of weakness in some euro zone bond markets, the outright pressure of the dissolution of the currency union has disappeared…The underlying fundamentals for the euro remain, unfortunately, negative for the euro. Those fundamental issues remain the sustainability of debt in countries like Greece. The imbalance in the region persists. The tighter fiscal policy will lead to weaker growth, which means the ECB will have to keep its policy looser for longer. This will push the euro lower against the dollar in the second half of this year.

—Mansoor Mohi-uddin, Head of FX Strategy, UBS: Bloomberg

We are firmly committed to our view. Inflation is going to stay low for a long period of time, so is the interest rate.

—Hans-Guenter Redeker, head of global FX strategy, BNP Paribas: Bloomberg

You’re starting to see that collapse in property and it’s going to hit the banking system.  They have a lot of tools and some very competent management, but it’s not easy….The bad news is the recoveries are very slow…the fact that we’re not growing super fast, doesn’t necessarily say well therefore we’re about to enter something worse.

—Ken Rogoff: Bloomberg

The psychology of the stock market couldn’t be worse, yet the valuation probably couldn’t be a whole lot better. Because corporate earnings estimates are rising, there’s a significant valuation imbalance that suggests later this year stocks are going to start going up again, and they’ll probably go up sharply.

—Philip Orlando, chief equity market strategist at Federated, which manages $350b: Bloomberg.

The second-quarter increase in analyst estimates reflected in part an extrapolation of the cyclical bounce into a durable, robust recovery. We expect analysts to revise down their estimates in the weeks ahead as the economic data confirm that the cycle bounce has run into significant structural headwinds.

—Mohamed El-Erian: Bloomberg