Last Year’s Headwinds Still Blowing

Yesterday’s trading was largely in response to negative developments in China, which fueled a global selloff. A few catalysts are responsible for the sour mood, but the primary focus is the latest reading on Chinese manufacturing.
The Caixin China manufacturing purchasing managers’ index came in at 48.2, the tenth consecutive contractionary reading. They noted that sub-indexes tracking production, new orders, and new export orders all declined.

This post was published at FinancialSense on 01/05/2016.