igations is a positive; (6) Slower buybacks a smaller contribution to EPS growth; (7) Fair value pension charges at year end hit 40 operating EPS. (8) Oct Mfg. ISM is 50.1, weakest since Dec 2012. Latest core capital goods new orders are -5.8% y/y, worst since Dec 2009. Mfg. IP ex Auto growth is weak. An

gations is a positive; (6) Slower buybacks a smaller contribution to EPS growth; (7) Fair value pension charges at year end hit 4Q operating EPS. (8) Oct Mfg. ISM is 50.1, weakest since Dec 2012. Latest core capital goods new orders are -5.8% y/y, worst since Dec 2009. Mfg. IP ex Auto growth is weak. An