The United States: Turning to manufacturing, the ISM and Markit PMI measures have diverged further. Part of the difference is the ISM indicator’s higher correlation to factory activity in the Midwest, which experienced significant deterioration in recent months (see chart).
Will a rebound in manufacturing in 2020 provide a tailwind for economic growth?
The Eurozone: The euro’s trading range has been the tightest in years in 2019.
China: Goldman expects the negative impact of the trade war on China’s real GDP to ease over the coming quarters.
Commodities: The latest move in gold has been impressive.
Speculative bets on gold:
Alternatives: Private equity dry powder hit $1.5 trillion.
Food for Thought: US emergency room visits:
Edited by Devon Lall
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