The US/China trade dispute is really impacting across the major economies, driving a global slowdown. PMI data from manufacturing sectors paint a starkly gloomy picture of contraction. The question is how long, or whether at all, can the services sectors of these major economies (which still drive the bulk of economic growth) be insulated? With the supply lines negatively impacted, capex programs restricted and new order flows falling, negativity surrounding global growth prospects is growing. The US dollar took a hit yesterday as the ISM Manufacturing data hit its lowest level (47.8) since 2009. Equity markets and ... (full story)