The Eurozone manufacturing and composite PMIs came in better than expected – the fastest growth in 54 months. A great deal of this was driven by Germany
Posts By: Rob Arthurs
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The Daily Shot™ Greetings, Once again let’s begin with the US where the Q2 GDP growth was revised sharply higher. While an upward revision was expected, the actual result was above consensus. As discussed yesterday, the US economy remains resilient in spite of the global slowdown. Consumption has been the key driver of US growth.
About once a generation, the finance industry cocoons an evolution, adding a layer of complexity to a system almost no one fully understands. From equities and bonds available to the middle classes in the 1950s, to the 1980s rise of derivatives and asset backed securities, each layer has added enormous wealth to the pockets of institutions and investors who spotted the trends early and figured out how to capitalise on the opportunities