- Chinese Industrial output at 17 year low
- Germany therefore heading into recession (I don't think many realise just how tied to China the German economy has become)
- US Trade War still fun
- Brexit issues
- Hong Kong on edge of a crackdown
- Argentina defaulting
So overall, a right pretty face for the world economy. Markets as we often say find ways of tanking in September and October if they are going too. This yeas, how do they not find a way!
Equally, a recession with real interest rates at such low levels will be very strange indeed with hard to predict outcomes. For a domestic example, short supply of UK Houses coupled with huge mortgage availability and low rates will stop a very over-inflated market from falling very far. Which in terms means the mortgage supply won't be turned off - so a very limited impact.