Tobias Levkovich on bank lending activity

Part 2, July 1:Tobias Levkovich, chief US equity strategist at Citi says the investment decisions that companies do are based on some sort of return on invested capital relative to weighted average cost of capital. Given that you've seen bank tightening standards on their lending activity, it's more costly to go out and borrow money to invest with, and as a result certain projects they would have done just don't get over the hurdle right now.