- Des Moines Register: Doane Agricultural Services of St. Louis reported from its annual crop tour through Iowa this week that the likely corn yield will be 117 bushels per acre in Iowa. That total production figure would be the lowest total production in Iowa since the 1.426 billion bushels in 1995 and the lowest bushel per acre figure since the 84 bushels in the flood year of 1993. In 2011, Iowa produced 2.36 billion bushels of corn
- U.S. GDP grew at a tepid annual rate of 1.5 %.
- U.S. investors withdrew $11.5 billion from domestic stock funds. The largest weekly outflow in over two years.
- French President Hollande and German Chancellor Merkel expressed their determination to save the euro. The two agreed that the two countries were "fundamentally attached to the integrity of the euro area" and that "they are determined to do everything to protect it".
- Mario Draghi, the ECB president, vowed to do "whatever it takes" to save the euro within limits of its mandate. "Believe me, it will be enough," he said.
- Sandy Weill suggested that banks should be broken up, because they are too big, and proposed a return to Glass-Steagall.
- The Asian Development Bank expects growth in the Pacific region to expand 6 % in 2012.
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