Forza relativa degli emergenti rispetto allo Spoore
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MANUFACTURING AT A GLANCE
JULY 2010
Index
Series
Index
July
Series
Index
June
Percentage
Point
Change
Direction
Rate
of
Change
Trend*
(Months)
PMI
55.5
56.2
-0.7
Growing
Slower
12
New Orders
53.5
58.5
-5.0
Growing
Slower
13
Production
57.0
61.4
-4.4
Growing
Slower
14
Employment
58.6
57.8
+0.8
Growing
Faster
8
Supplier Deliveries
58.3
57.3
+1.0
Slowing
Faster
14
Inventories
50.2
45.8
+4.4
Growing
From Contracting
1
Customers’ Inventories
39.0
38.0
+1.0
Too Low
Slower
16
Prices
57.5
57.0
+0.5
Increasing
Faster
13
Backlog of Orders
54.5
57.0
-2.5
Growing
Slower
7
Exports
56.5
56.0
+0.5
Growing
Faster
13
Imports
52.5
56.5
-4.0
Growing
Slower
11
OVERALL ECONOMY
Growing
Slower
15
Manufacturing Sector
Growing
Slower
12
ISM in declino anche se migliore delle aspettative .
E Goldman cosa consiglia ?
Long :
Recommending a short Sep 2010 VIX position
We are recommending a short September 2010 VIX position, currently near 27.50, with a target of 22 and a stop of 30. We view this trade as a way of trading continued compression in elevated risk premium in a “carry-positive” way, above and beyond any directional view on the business cycle (though there are certainly elements of that here too).
Mah, aspettiamoci un aumento della volatilità dei prossimi giorni, anche se è molto probabile che ad Agosto si continui a salire, come ad esempio l’anno scorso.
