The latest purchasing managers survey for Europe is showing the manufacturing index at 51.9 down from 52.2 in April. See above chart.
The message is loud and clear. Europe is stagnating. One can analyze and study and research the data ad nauseam but the message remains the same. Europe is a major headwind for the global economy.
This is the main reason their bond yields are sinking and most of them are negative.
More details in The Peter Dag Portfolio on www.peterdag.com
George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
Author, Profiting in Bull and Bear Markets
No. 1 bond timer in the past 12 months.
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