Look at this plot from @Callum_Thomas . This market will go a lot higher before it goes lower and it does not matter how crap the data looks (and yes it looks horrible) but other factors are in the driving seat pic.twitter.com/64UQyBZWIp
— M vestergaard (@mvesterg) June 18, 2019
Cass Freight index deteriotes further now down -6% YoY. How prolonged the downturn will probably determine where ISM bottoms. pic.twitter.com/WehbC1P1NY
— Greg S. (@GS_CapSF) June 19, 2019
China employment PMI now at its lowest level since the global financial crisis.
Economic conditions deteriorating as political unrest is heating up.
China’s debt problems are starting to boil over. pic.twitter.com/V3ezJWhpEA
— Otavio (Tavi) Costa (@TaviCosta) June 17, 2019