Contrary to recent fears which caused a volatile market correction earlier this month, North Pier is seeing signs of firming in key international economies in Europe and Asia. This information has not hit the headlines…yet.
The October International Purchasing Manager Indices are showing a resurgence in Germany’s and Japan’s business-to-business sectors and general firming in China and the Euro-zone as a whole. This directly refutes concerns that international economies were heading for recession.
In North Pier’s 10/16 PierAlert, we reminded our network of our July prediction for upcoming market volatility. That morning, following the market’s 460 point intra-day dive, we also counseled that dramatic corrections are completely normal in ascending bull markets. We reaffirmed our long-standing theme of global expansion, anchored by strength in the U.S. economy. We are now seeing indications that suggest international economic conditions may be more stable than many have thought. We will expand on our position in North Pier’s upcoming Market & Economic PIERspective.
All the best,
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