By Bilal Hafeez 24-10-2019

ECB Has Lost Credibility

(2 min read)
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The terminal decline in Euro-area growth appears to have stopped. The latest batch of European manufacturing PMIs show upticks for Germany and France and a stable print for the Euro-area. Services data also has gone sideways. The larger question is whether the decline for the US has stopped. The Markit PMI survey appears to indicate yes, but the more robust ISM survey has yet to show this (next Friday’s release is important in this regard)...

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