‘Gold is money. Everything else is credit.’

Columbia Threadneedle
By October 2, 2019 17:44

‘Gold is money. Everything else is credit.’

Government bonds enjoyed another strong week with yields lower in the key areas. The release of PMI data in Europe offered little in the way of good news. It showed that the manufacturing downturn has taken another leg lower, driven by export-exposed sectors. Germany continues to lead this slump, joined recently by French services. In all, the Composite PMI came out at 50.4 in September (51.9 Aug, exp 52.0). 

Columbia Threadneedle
By October 2, 2019 17:44

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