The German private sector returned to growth at the start of the second quarter, the latest HCOB ‘flash’ PMI® survey compiled by S&P Global showed, driven by a solid rise in services business activity. Although manufacturing remained in contraction, the rate of decline in factory production eased
When analysing the outlook for equities, it can be useful to consider the assumptions financial markets appear to be pricing in. Historically we have found that opportunities and risks are most present when the market is pricing in bearish or bullish outcomes respectively that probabilistically are