European stocks are trading close to the flatline this morning with investors digesting data out of China. Chinese Manufacturing PMI came in at 50.1 for August, the weakest growth since February last year. Various factors are likely responsible for the slow-down but mainly coronavirus delta variant outbreaks. Down from 50.4 last month and below expectations.
Generally sentiment has been bolstered after Fed chair Jerome Powell’s speech at Jackson Hole on Friday which did not provide any evidence that the Fed will be imminently tightening its monetary policy.
Disclaimer: ‘Where the business has expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals and are subject to change without notice. The information contained within this communication is believed to be reliable but Realm Investment Management Limited does not warrant its completeness or accuracy. This communication is not intended as a recommendation to invest in any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy or sell investments.’