Global M.PMI vs Y/Y in relation to world GDP contribution.
dramatic shift towards lower left quad. Expect PBoC stimuli, and why did ECB stop QE ?
• outright 27M L
• uptick # countries > 50
• 6.5Y L # countries pos Y/Y
• Global JPM 50.7 31M L
• Global MT 51.7 28M L
• DM 52.9 28M L
• EM 49.7 29M L
• F5 51.5 uptick
• Germany contracting
• France uptick
• Italy falling off the cliff
• Spain uptick
#ECB quo vadis
• M.PMI new 50M low (50.5)
• STOXX ITRAXX Credit Default Swap Index Corp IG in tandem rebound
• STOXX vs VSTOXX can only be explained by short sellers #stunning divergence
• Italy nosediving to 47.8 7Y L
while $MIB totally ignores this ?
#ECB stopped QE, they dont buy BTPs anymore...
• M.PMI 51.8 slightly lower
• $FTSE and $GBP Cable as a comparison via Y/Y
• #BREXIT negotiations