World PMI Manufacturing

World PMI Manufacturing Most regions are now in contraction territory, except the United States. Picture source: Pictet Wealth Management

World Manufacturing PMI

World Manufacturing PMI World manufacturing PMI declined again. This is the longest consecutive decline (14 months). Picture source: Frederik Ducrozet

Gold is Uncorrelated to World Equity

Gold is Uncorrelated to World Equity Since 1988, the correlation between gold and world equity has been only 3%. The 10-year rolling correlation has been between -10% and 10% over the past 20 years. Picture source: A. Stotz Investment Research

FedEx vs. World Trade

FedEx vs. World Trade This great chart shows that FedEx is usually a good leading indicator of the world economy. It leads world trade by 6 months. Picture source: Nordea and Macrobond