Trouble Is Now Spreading Across The Globe

Thursday, August 9, 2018
By Paul Martin
August 09, 2018

Weakness In Japan & Germany
August 9 (King World News) – Here is a portion of what Peter Boockvar wrote today as the world awaits the next round of monetary madness: The always volatile Japanese machine orders in June fell 8.8% m/o/m, much worse than the estimate of down 1% and follows a 3.7% drop in May and a 10.1% spike in April. While as stated this number jumps around a lot, we can’t dismiss the weakness because it coincides with a softening seen in manufacturing confidence where the last Japanese Markit PMI for July was the lowest since last August…

Boockvar continues: As for the global manufacturing PMI we saw it last week drop to a one year low too. Whether it’s concerns with tariffs and/or something else, a pause on spending in Japan is taking place. We also saw this weak softness in the German factory order and IP data. JGB yields were little changed with the 10 yr at .115% and the 40 yr yield down 1 bp and back below 1.0% and .99%. The yen is down slightly as was the Nikkei.

The Rest…HERE

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