Most of the world’s markets are still posting sizable gains year to date, but the recent selling has claimed another victim for the loss column. As of Friday’s close, three of the 14 slices of the major asset classes are now underwater this year, based on ETF proxies through through Friday, Aug. 11. Two weeks ago, all the major asset classes were enjoying gains in 2023.
Daily Archives: August 14, 2023
Macro Briefing: 14 August 2023
* China’s economic slowdown will affect big US firms operating there
* China’s property woes deepen as property developer suspends trading of bonds
* China vows ‘forceful’ response to Taiwan VP’s US visit
* Smaller nations are being left behind in new world economic order
* US consumer sentiment mostly unchanged in August, near historical average
* “A default cycle has started,” says Torsten Slok, chief economist at Apollo
* Russian ruble falls to 17-month low vs. the US dollar
* Large-cap growth stocks (VUG) are crushing value shares (VTV) this year:
