THE WEEK THAT IT WAS... The week of Eid al-Adha and Juneteenth was all about retail sales and industrial production in China and the US, inflation data in Japan, and US flash PMI data. In China, the latest economic data for May showed that industrial production
“The global economy was facing the worst collapse since the second world war as coronavirus began to strike in March, well before the height of the crisis, according to the latest Brookings-FT tracking index. “The index comes as the IMF prepares to hold virtual spring meetings this week, when it will release forecasts showing the deepest contraction for the global economy since the 1930s great depression. https://archive.md/UUfl2
Then we got covid ... the death shots... and trillions of $$$ in stimulus...
My take in a nutshell. Sales are declining to increased prices by the middleman, thereby affecting the end user the consumer. Since prices have increased again in the past quarter and of this one too, consumers won't spend. They are holding on to their money. Also, the bulls are selling in a sketchy market to protect against any significant losses.
“The global economy was facing the worst collapse since the second world war as coronavirus began to strike in March, well before the height of the crisis, according to the latest Brookings-FT tracking index. “The index comes as the IMF prepares to hold virtual spring meetings this week, when it will release forecasts showing the deepest contraction for the global economy since the 1930s great depression. https://archive.md/UUfl2
Then we got covid ... the death shots... and trillions of $$$ in stimulus...
What surprise can we expect this time?
My take in a nutshell. Sales are declining to increased prices by the middleman, thereby affecting the end user the consumer. Since prices have increased again in the past quarter and of this one too, consumers won't spend. They are holding on to their money. Also, the bulls are selling in a sketchy market to protect against any significant losses.