as you know, regional PMIs from the US give hope, that the industrial sector will give a positive surprise at the end of December. quite positive expectations can be built on this.
but the guys from nomura have a different opinion. they say, that it is a seasonality adjustment error. the market is doing it wrong, from that there are surprises.
Really, what well – alternative calculations of Nomura, in general, do not greatly worsen the picture. do not improve, certainly, but the tragedy does not work.
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