Archive | July, 2015

More Evidence of China Slowing Permeating Asia – 7/7/2015

Image 3

It seems as though each day we see more evidence of China’s economic slowing affecting its neighbors. When a force as large as China slows dramatically, we should expect as much. Here are today’s regional economic releases: Taiwan YoY export growth hitting multi-year lows: Taiwan CPI in deflation all year: Philippines CPI at decade lows:

European Industrial Production, or Lack Thereof


Today’s somewhat underwhelming release of industrial production statistics in a number of European countries is a poorly-timed reminder that Germany is the only country that has managed to see any real improvement over the last ten years (and, even there, it has not surpassed previous highs): Even though industry only accounts for about 25% of value […]

Knowledge Outperformed By At Least 3% In 1H2015


The Gavekal Knowledge Leader Indexes, which are the world’s first indexes to capture the Knowledge Effect, outperformed their respective MSCI Index counterparts in the first half the year. The Gavekal Knowledge Leaders Developed World Index (Total Return) finished the end of June up 8.1% YTD. The index outperformed the MSCI World Index (Total Return) by 5.15% and […]

US Participation Rate Drops To October 1977 Levels


At first glance, the most eye-opening stat in the latest monthly employment report is the fall in the participation rate from 62.9% to 62.6%. This latest level is the lowest level since October 1977. The participation rate had looked liked it had stabilized since October 2013. However, the latest report shows that it has made a downside […]

Time to Call A Doctor?


Yesterday, we took a look at the performance of our various baskets relative to the MSCI World Index, and noted that MSCI North America has dominated in nearly every category over the last four years.  By contrast, MSCI Europe has been the worst performer in nearly every category– except Early Cyclicals (Consumer Discretionary) and Growth Counter-cyclicals […]

Import/Export Prices Have Declined Uniformly Around The World


According to the World Trade Monitor, world export prices declined by -15.8% year-over-year in April and are back at level last seen in 2009. World import prices have declined by -15.1% year-over-year as well. In the developed world, export prices are down-16.6% year-over-year. This a larger drop than what occurred in 2009 and is the […]