Let’s start off simply; It was obvious that early on, the day was not going to start well for equity markets. The Flash PMI number out for China was disconcerting. A reading of under 50 will show a contracting economy and the release was expected to show a...
The vote has been tallied and we now know.NOTHING! That is right, the only thing we know is that the Greek Parliament has provided a vote of confidence for George Papandreou. Now the austerity plans have to be implemented in order to receive the final tranche of...
I could swear that someone said that there was a recovery somewhere. Obviously it was other than the housing sector.The better than expected existing home sales on a MoM basis helped to lift markets. Short covering has been the primary driver as the world sits and waits for Greece to...
By Mark Lee June 18 (Bloomberg) — The sovereign debt crisis is “deepening day by day” and shows that governments in general account “badly,” Ian Ball, chief executive officer at the International Federation of Accounting, said at a conference in Hong Kong today. The global financial crisis may not be...
Defensive sectors are still leading, although not improving.
We looked at this recently to see what is occurring on a more detailed level. Not much has changed over the past few weeks. This is a total of 12 weeks of data.
KEY:
S5COND – S&P 500 CONS DISCRET IDX
S5CONS...
