Global Stocks Suffer Worst Year Since 2010 As Emerging Markets, Yield Curves Collapse

The Second Half can't be any worse that the first, right?

Video length: 00:03:57

H1 2018 was ugly for most...

WORST

  • Bitcoin Worst Start To A Year Ever

  • German Banks At Lowest Since 1988

  • Onshore Yuan Worst Quarter Since 1994

  • Argentine Peso Worst Start To A Year Since 2002

  • US Financial Conditions Tightened The Most To Start A Year Since 2002

  • Global Systemically Important Banks Worst Start To A Year Since 2008

  • Global Stocks Worst Start To A Year Since 2010

  • China Stocks Worst Start To A Year Since 2010

  • German Stocks Worst Start (In USD Terms) Since 2010

  • Global Economic Data Disappointments Worst Since 2012

  • Emerging Markets, Gold, Silver Worst Start To A Year Since 2013

  • High Yield Bonds Worst Start To A Year Since 2013

  • Offshore Yuan Worst Month Since Aug 2015

  • Global Bonds Worst Start To A Year Since 2015

  • Treasury Yield Curve Down Record 16 Of Last 18 Quarters

BEST

  • US Tech Stocks Best Start To A Year Relative To Financials Since 2009

  • Dollar Index Best Quarter Since Q4 2016

  • WTI Crude Best Month Since April 2016

Bloodbath

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As the 'global synchronous recovery' narrative collapsed with Global Macro Surprise Index collapsing to six year lows at the fastest pace since 2012 (which led The Fed from Operation Twist to QE3...)

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And as the economy slowed, US financial conditions tightened dramatically...

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***

STOCKS

World Stocks are red to end H1 2018 - they just suffered their worst first-half of a year since 2010...

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China's Shanghai Composite suffered its worst start to a year since 2010...

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Europe was mixed in H1 with DAX the biggest loser as trade wars hit the big export economy (and Italy suffering on political crisis)...

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