A messy start to July by Jim O’Neill



Just when it seemed things were shifting back to the optimists’ camp, Friday’s news about the state of the world threw another spanner in the works. In addition to a very disappointing US nonfarm payrolls report, Italy came into the spotlight in the European crisis. Subsequently, the earliest of the June data releases from China look somewhat of a mixed bunch too. China’s CPI came in at the high end of expectations and there was a notable rise in the trade surplus due to soft imports.

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