Why today's Philly Fed report is not as strong as it seems
Today's figures from the Philadelphia Federal Reserve appear bullish at first glance, but a closer examination reveals some mixed signals amidst a decidedly end-of-cycle overall tone.
It has been a busy week in global macro, with Saxo Bank head of APAC macro strategy Kay Van-Petersen looking into the Turkish and Argentinian crises as well as Chinese equities. Could oversold Chinese stocks be the year's major contrarian trade?
To download your copy of Van-Petersen's latest Macro Monday update, click here.