Surveillance: Skip vs. Pause with Dudley
Bloomberg Surveillance
00:00
The Dollar Winning to Dollar Strength
We're still on track for something which skirts recession slash shallow recession but it's not looking like a deep recession unless we get some sort of nonlinear event. Manufacturing PMIs worldwide, Europe, China, South of 50 contractionary, throw in the U.S., pretty ugly there. When you look at services and which make up the bulk of some of these economies still pretty robust. The surprise of the last month or so has just been the breakdown in another consensus trade. Dollar weakness to dollar strength. Is this something new? And if it isn't, where does that new engine of dollar weakness come from?
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