The longer-term trend of downward correction in commodity prices remains intact with the MPI 33% lower than its all… https://t.co/mpBk1zAdc9
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US stocks led a global equity rally in major developed markets in July, as momentum factors enjoyed their day in the sun (Table 1). However, the bulls will be tested once again as the bears return from leave in the face of central bank rate increases, increased recession risks including a second consecutive quarter of negative GDP in the US and a two-year low in the J.P.Morgan Global Manufacturing PMI™, with business optimism dipping to its lowest level since May 2020.
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This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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