Month

Overall: Global purchasing manager indexes roll-over from strong growth mode. Biggest-ever decline in US pending home sales, drop in Chinese LEI, austere G20 communiqué, and fears over a sequential decline in stimulus spending prompts continued risk-aversion. Weak job growth caps a terrible run, with S&P’s -12% in Q2, at new lows for ’10. Analysts/strategists reluctantly revise forecasts lower, Goldman softening

Global purchasing manager indexes roll-over from strong growth mode. Biggest-ever decline in US pending home sales, drop in Chinese LEI, austere G20 communiqué, and fears over a sequential decline in stimulus spending prompts continued risk-aversion. Weak job growth caps a terrible run, with S&P’s -12% in Q2, at new lows for ’10. Analysts/strategists reluctantly revise forecasts lower, Goldman softening and Merri