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German manufacturing just slumped to the lowest level since the financial crisis — and it’s a major warning sign for the global economy
German PMI data slumped to its lowest levels since the financial crisis showcasing the growing problems at the heart of the country's economy.
A data point seen as the bellweather for global trade just tanked — and ‘the floor is not yet in sight’
South Korea's 20-day exports, seen as a canary in the coal mine for the global economy, dropped 5%. Exports to China and Japan fell by more than 10%.
UBS CEO Sergio Ermotti blamed a terrible market backdrop for lower investment banking and global wealth management revenues in the first quarter.
"The prospect of low rates for longer is music to the ears of equities, as firms benefit from lower borrowing costs," said Jasper Lawler at London Capital Group.
Prada blamed a weaker yuan for tepid demand from Chinese tourists. Falling asset prices and slowing growth in China have also tempered confidence.
Chinese industrial output rose 5.3% in the first two months of 2019, its slowest rate of growth in 17 years. And unemployment ticked higher.
Traders are still jittery over Boeing's woes and Theresa May's Brexit deal was voted down in Parliament, leading to uncertainty and a bit of relief.
Goldman Sachs flagged bonds, leveraged loans, auto loans, student loans and commercial real estate as 'pockets of risk' for the US economy.
China's state planner said it would aim to achieve "a good start" in 2019 for the economy, words widely seen to portend more stimulus.
The shortage in Intel's chip supply is likely to boost AMD's market share in the high-end commercial desktop and server market, Jefferies says.