This site uses cookies

To give you the best possible experience, the GAM website uses cookies. You can read full information of our cookie use here. Your privacy is important to us and we encourage you to read our privacy policy here.

OK
False 70f9f0bf-c206-4b0b-ad0f-adf77deaaf42

This week's announcements

Wednesday, July 08, 2020

We believe today’s sharp bounce back in the ISM non-manufacturing index in the US to 57.1 on first blush points to a rallying V-shaped recovery there. As mentioned before, though, this diffusion index (with a reading above 50, pointing to business expansion) is looking a little dated, and likely will not be capturing the sudden upsurge in new virus cases in some of the southern states, which have had to enact varying degrees of lockdowns again. The data will be coming thick and fast, and not all of it will be that useful this week given that it’s a bit stale. Equity markets nonetheless are taking any little bit of good news as a big positive, so for the time being it’s probably right to enjoy the ride. 


Important legal information
The information in this document is given for information purposes only and does not qualify as investment advice. Opinions and assessments contained in this document may change and reflect the point of view of GAM in the current economic environment. No liability shall be accepted for the accuracy and completeness of the information. Past performance is no indicator for the current or future development