17 days ago • Posted by Charles-Henry Monchau

The is the longest period EVER of developed markets PMI  manufacturing improvement

However, as highlighted in a recent research note by Goldman Sachs, equity returns tend to be below average if ISM declines, even from elevated levels. So even if the "reopening / economy growth accelerating" thesis has legs, the second derivative is the one to watch carefully.   

Number of consecutive months with developed markets PMI increasing