The view from EMEA

Also Interesting

• If a no-deal Brexit is likely, what could it mean for sterling?
• Cigarettes, sunshine and happiness
• Recovery in Europe

Global Asset Allocation 

Down But Not Out

After 21 months of slowing global growth, we are starting to see signs of stabilization, signaled by a potential bottoming in the industrial economy. The J.P. Morgan Global Manufacturing PMI ticked up in October—the indicator’s third increase in a row—tempering recession fears. The loosening of global financial conditions starting to kick in, resiliency of the U.S. consumer, receding trade war uncertainty, and progress on Brexit have all contributed to the rosier sentiment shift. However, some economic data remain worrisome and business investment remains on the sidelines, questioning the sustainability of the stabilization.