Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.
BTW, clicking on most charts will produce the original-sized, i.e., bigger version.
Monday, December 19, 2016
PMIs show world econ picking up
This is the GDP-weighted average for the PMIs ("purchasing manager indices") for Europe, the US and Japan. The latest observation is based on preliminary not final data. (Markit no longer releases prelim figures for China.) This the first real synchronised pick-up in major world economies/regions since the euro crisis. For the first time since then we're seeing a recovery in Europe as well as a pick up in the US and Japan. And this acceleration is before the surge which will come from the Trump spending and tax cuts.