Investors Behind The Curve On Normalization, U.S. Conversion To Energy Exporter?
Euroland Economic Data Still Glum Despite continued investor hope that the ECB will backstop financial and sovereign debt risk in the Eurozone, the economic numbers for Euroland continue to look pretty glum. Markit's latest Eurozone PMI (hat tip: FT Alphaville) shows the Eurozone sinking further into decline at the start of the fourth quarter, with combined output in the manufacturing an service sectors dropping the fastest since June 2009--i.e., more economic contraction. [More...]