‘A Sea Of Red’: Manufacturing Malaise Says World’s Ablaze
As July melts into August, the world remains mired in a seemingly intractable factory slump.
Manufacturing PMIs for major economies from Europe to Asia stayed below the 50 line that separates expansion from contraction last month. Although some gauges showed signs of improvement, and although not every gauge in Asia is sitting sub-50, the broader outlook is as bleak as it's been in years.
In Europe, for instance, Germany is serving as a severe drag. Manufacturing in the bloc contracted for a s
Trump, Navarro, and Lighthizer are doing their best to blow up the global trade regime and they’re surprised that the dollar, the world’s reserve currency and one of the few safe havens out there, is catching a bid? What a bunch of maroons.
For the nonce, bad news is good news for the markets. Well, not all of the market. Cyclical and rate-sensitive sectors underperforming.
Boy, that comment of mine didn’t have a long period of relevance.