Weak EU PMIs, DB implosion, global slowdown plague markets

weak e.u. pmis, db implosion, global slowdown plague markets on wed – but no fear b/c trump admin will release fake trade news pic.twitter.com/P80Rklyh8u

— Alastair (@StockBoardAsset) July 24, 2019

Deutsche Bank earnings: Q2 net loss comes in at 3.1 billion euros, vs. 1.7 billion euros expected

Analysts polled by research firm Refinitiv had estimated a net loss of 1.7 billion euros for the period, due to the bank’s massive restructuring program announced earlier this month.
The German bank itself had previously said it expected to report a net loss of 2.8 billion euros for the quarter.

To recap:

1) Germany is heading to a recession taking the EZ with it.
2) Global slowdown is reaching the US
3) China back on deleveraging -> expect deepening economic woes across the globe.

Our #recession call (EZ:Q4, US:Q1) from March holds steady 👇https://t.co/uj7Cj8Effa https://t.co/RiRWVvxvIy

— Tuomas Malinen (@mtmalinen) July 24, 2019

BREAKING! US Markit Manufacturing #PMI falls to 50! pic.twitter.com/DzOtCz9VJ3

— jeroen blokland (@jsblokland) July 24, 2019

pic.twitter.com/p01ExDTD74

— Alastair (@StockBoardAsset) July 24, 2019

US Manufacturing PMI Slumps To 10-Year Low https://t.co/8SlyOF9BXH

— zerohedge (@zerohedge) July 24, 2019

New Home Sales Miss As Mortgage Rate Collapse Fails To Bring Buyers Back https://t.co/BFfGESYPgK

— zerohedge (@zerohedge) July 24, 2019

The IHS Markit Flash Germany Manufacturing PMI broke down to a fresh new low of 43.1 – this is one of the most marked contractions since 2009 with new orders, employment and stocks of purchases all falling more quickly.

The ECB will need to increase monetary efforts pic.twitter.com/ELd01PCmiC

— Eric Basmajian (@EPBResearch) July 24, 2019