The global economy is slowing while the USA remains resilient. Particularly with a trade truce between the USA and China.
The S&P 500 Index is “gator jawing” away from the global PMI Manufacturing index.
Also gator jawing is the S&P 500 index from the Citi Global Surprise Index.
As an example of slowing global economic growth, China’s 7-day repo rate just fell to its lowest level since June 2018.