Today's Chart of the Day from Hedgeye Director of Research Daryl Jones shows a big divergence emerging in China.
This morning’s China Services PMI for May had a big jump from 52.0 to 54.0. When combined with the Caixin Manufacturing PMI, the Composite PMI in China for May hit the highest level in a year! This comes, though, as “official” China data is slowing . . . as the chart also shows.
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