Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
ISM Manufacturing Index Drops To Lowest Level Since June 2009
Globally Manufacturing PMIs Are Weak BY ROBERT BRUSCA DECEMBER 1, 2015 Copyright 2015 Haver Analytics ..A number of international forecasting agencies have cut their respective outlooks for growth in 2016. Among major reserve currency central banks, only the Federal Reserve in the U.S. is contemplating a rate hike. The European Central Bank is on the verge of stepping up its QE stimulus, the Bank of Japan has made no changes to its QE program and the Bank of England has its QE on hold. All-in-all it is not a set of configurations by central banks that gives rise to the view that growth is about to bust out all over. And crude oil prices continue to behave as if they have a bigger downside. ..Geopolitical risks have stepped up over the last month and world leaders can see the risks multiplying. Consumers have been very tight with their wallets in buying everything except autos and trucks. At least these sales have remained strong in the U.S. and Europe even if they have slowed in China. Unemployment in Europe has fallen to its lowest point since early 2012. But that does not make it low. There are signs of some progress being made. But there is still a lot of dislocation. Perhaps policymakers need to be reminded of the risk of backsliding at least as much as the risk of overheating. http://www.haver.com/comment/comment.html?c=151201C.html Edit 12/02 Chinese stocks rally most in a month The Shanghai Composite Index climbed 2.3% at the close on hopes the PBOC would introduce more stimulus measures by adding to the six interest-rate cuts it unveiled over the last year.A recent raft of indicators has signaled a deepening economic slowdown, including falling exports, declining producer prices, and slowing industrial and manufacturing activity.The benchmark's biggest rally in a month was also attributed to speculation that China would make mortgage interest payments tax deductible in order to stimulate its domestic property market. http://seekingalpha.com/news/2959566-chinese-stocks-rally-most-in-a-month?uprof=46
Comments
BY ROBERT BRUSCA DECEMBER 1, 2015 Copyright 2015 Haver Analytics
..A number of international forecasting agencies have cut their respective outlooks for growth in 2016. Among major reserve currency central banks, only the Federal Reserve in the U.S. is contemplating a rate hike. The European Central Bank is on the verge of stepping up its QE stimulus, the Bank of Japan has made no changes to its QE program and the Bank of England has its QE on hold. All-in-all it is not a set of configurations by central banks that gives rise to the view that growth is about to bust out all over. And crude oil prices continue to behave as if they have a bigger downside.
..Geopolitical risks have stepped up over the last month and world leaders can see the risks multiplying. Consumers have been very tight with their wallets in buying everything except autos and trucks. At least these sales have remained strong in the U.S. and Europe even if they have slowed in China. Unemployment in Europe has fallen to its lowest point since early 2012. But that does not make it low. There are signs of some progress being made. But there is still a lot of dislocation. Perhaps policymakers need to be reminded of the risk of backsliding at least as much as the risk of overheating.
http://www.haver.com/comment/comment.html?c=151201C.html
Edit 12/02 Chinese stocks rally most in a month
The Shanghai Composite Index climbed 2.3% at the close on hopes the PBOC would introduce more stimulus measures by adding to the six interest-rate cuts it unveiled over the last year.A recent raft of indicators has signaled a deepening economic slowdown, including falling exports, declining producer prices, and slowing industrial and manufacturing activity.The benchmark's biggest rally in a month was also attributed to speculation that China would make mortgage interest payments tax deductible in order to stimulate its domestic property market.
http://seekingalpha.com/news/2959566-chinese-stocks-rally-most-in-a-month?uprof=46