Weekly reminder that equities have been pricing in a pick up not a slowdown. Our leads have ISM lower for next 5-7 months….. t.co/S30hCxOQd6
— Teddy Vallee (@TeddyVallee) September 3, 2019
The Conference Board CEO confidence measure has been warning that the manufacturing ISM was set to plunge for some time now. more to come? The confidence reading seem consistent with recession (false signal in 1999). With confidence so low, no wonder business investment is weak! pic.twitter.com/RFIsdcChPD
— Albert Edwards (@albertedwards99) September 3, 2019
"If rates continue to decline, banks are going to start pulling back on credit, and that just becomes self-reinforcing," said Chris Wallis, CEO and chief investment officer of Vaughan Nelson Investment Management, a unit of the giant French bank Natixis. pic.twitter.com/MZkJpIJbgb
— Alastair Williamson (@StockBoardAsset) September 3, 2019
US Manufacturing Weakest In 10 Years As New Export Orders Collapse t.co/444ROWItlp
— zerohedge (@zerohedge) September 3, 2019
On for 3 segments today on Bloomberg & will start w/ postmortem of US ISM manu. Let's look at details (all ugly & showing contraction of manufacturing).
New orders, production, employment, imports & exports, prices all down 👇🏻👇🏻👇🏻 pic.twitter.com/iGcB3qLy5w
— Trinh Nguyen (@Trinhnomics) September 4, 2019
it was absolutely reckless for the trump admin to say america was an economic island for the global economic storm pic.twitter.com/WYi2usErot
— Alastair Williamson (@StockBoardAsset) September 3, 2019
The updated US-China trade war timeline pic.twitter.com/Kjudbvo1r4
— zerohedge (@zerohedge) September 4, 2019
UBS slashes world growth forecasts, predicts 1% U.S. Treasury yields
LONDON, Sept 4 (Reuters) – UBS on Wednesday slashed its forecasts for world growth and government bond yields on Wednesday, predicting 10-year U.S. Treasury yields — the benchmark for global borrowing costs — would end the year at just 1%.
A bitter global trade war that has hurt world economic growth and fuelled expectations for rate cuts from major central banks has sparked a sharp fall in bond yields this year.
In a note, UBS said it now sees world growth dropping to 2.5% in the coming quarters compared to an annualised 3.2% previously, and cut its U.S. 10-year Treasury yields forecasts by 25 basis points to 1% for 2019 and 1.25% for 2020.