Weekly Market Snapshot – December 2, 2019
Created by: Sam Tenney
- U.S. industrial Purchasing Managers Index (PMI) data for November 2019 came in below expectations, dropping from 48.3% in October to 48.1% for November. This drop was led by export shortages.¹
- The Federal Reserve has been considering a change to the way it handles inflation in its yearly policy tool review. This change would allow the Fed to run inflation above 2%, the reasoning behind this change being the Fed would like to have more flexibility regarding future interest rate adjustments. ²
- MSCI has scrapped its plans to include its first Hong Kong equity ArtGo, China First Capital, and Kasen Holdings into its world portfolio. This has caused a significant drawdown in these Hong Kong based companies of -98%, -91% and -78%. This shows an extreme effect of liquid ETF’s owning and/or considering highly illiquid stocks in their portfolio. ³
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