Despite talk of a global uptick, the indicators on global trade all point down.

Despite talk of a global uptick, the indicators on global trade all point down. @markets via @SoberLook pic.twitter.com/TVwemuAA9w

— Adam Tooze (@adam_tooze) December 1, 2019

One can only anticipate a reversal in these forward looking trends to justify the “green shoots” & “ global reflation trade” memes. Today’s ISM backlogs weakening corroborated Morgan Stanley data while Chinese data suggest otherwise. Hmmm. ⁦@SoberLook⁩ ⁦@Quillintel⁩ pic.twitter.com/k3NhRddv7W

— Danielle DiMartino Booth (@DiMartinoBooth) December 2, 2019

uh oh mfg recession spreading into employment – meaning the consumer is about to drop — broader slowdown — then open economy up to shocks and that's when a recession can strike (the shocks likely corporate debt) https://t.co/Uv7EkChq4U

— Alastair (@StockBoardAsset) December 4, 2019

Nov South Korea exports slammed unexpectedly due to reliance on China where exports fell 12.2% & semis, w/exports sinking 31% y/o/y. This coupled w/Australia miss on its mfg PMI suggest caution with regards to Chinese official data warranted ⁦@SoberLook⁩ ⁦@Quillintel⁩ pic.twitter.com/hamnTMGom3

— Danielle DiMartino Booth (@DiMartinoBooth) December 2, 2019

This global green shoot as undeniable as they come. Will 2020 see a sustainable and durable global growth recovery? ⁦@SoberLook⁩ ⁦@Quillintel⁩ #ResearchRevolution pic.twitter.com/w7FpLIPFFh

— Danielle DiMartino Booth (@DiMartinoBooth) November 26, 2019

wow the employment slowdown is very real ahead of an election year. time for qe 4,5,6,7,8,9 https://t.co/e6ehYayBL9

— Alastair (@StockBoardAsset) December 4, 2019

Next Year Will Be Hard on the Housing Market, Especially in Big Cities

Prices will fall in a quarter of the 100 largest metropolitan markets, including Chicago, Dallas, Las Vegas, Miami and San Francisco.