Does the risk rally have further juice? It might be too early, calendar-wise, to call it a Santa Rally, but a lot of things have gone the right way for equity bulls recently (Brexit, China/US trade talks, Hong Kong, Italy, PBoC CNY fixing & RRR cut). None of these issues have been fixed for good (in any way), but they have been postponement in to the future. Enough for a relief rally, it seems (Week ahead: Sing Hallelujah) Global PMI manufacturing, which had fallen for 15 consecutive months – actually managed to edge a touch higher in August, rising to 49.5 from 49.3. Sure, it’s still bad – but nonetheless an ... (full story)