• BLACK FRIDAY LIMITED-TIME OFFER

    GET THE BEST DEAL WE OFFER ALL YEAR

    SAVE 63% ON HEDGEYE’S ALL ACCESS PASS

Editor's Note: Below is a brief excerpt transcribed from today's edition of The Macro Show hosted by U.S. Macro analyst Christian Drake. Click here to learn more about The Macro Show.

2 Charts: We Reiterate Our Calls On #EuropeSlowing & Global #Divergences - tms

Christian Drake: Alright. The Eurozone is slowing. We did get the Eurozone PMIs this morning and here’s your composite number for September. Lower again. You can see in the chart the 1Q peak and rollover. Suffice it to say we reiterate #EuropeSlowing today.

2 Charts: We Reiterate Our Calls On #EuropeSlowing & Global #Divergences - eurozone pmi

Christian Drake: If we broaden it out and take the World Composite PMI, this is inclusive of the U.S. You can see the trend there as well. The red line is the 6-month moving average.

You can see the “globally synchronized recovery” peak in 1Q and the subsequent rollover there as well. Another new low for the World Composite as well. So if you’re looking for a visual that captures the global #Quad4 (Growth and Inflation slowing) reality for the nearer term this is your outlook there.

2 Charts: We Reiterate Our Calls On #EuropeSlowing & Global #Divergences - world pmi

2 Charts: We Reiterate Our Calls On #EuropeSlowing & Global #Divergences - the macro show