Just passing along this data point from the Cross Asset Research team. They cite the CitiGroup Economic Surprise Index for several regions to reinforce their case for a global macro slowdown:
- The macro environment has slowed down in most regions except for the US, which is now enjoying a strong economic rebound.
- In China, economic data continue to surprise on the downside. Yet, even in a scenario of a severe downturn, the country can still emerge strongly from the crisis in the long term, if its leaders remain on the path of reform.
- Emerging markets continue to slowdown as reflected by the contraction in manufacturing activity in major EM countries.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.