Our Market Optics chartbook contains data-driven insights that power our portfolio management teams’ views, ideas, and decisions. Each week, we’ll take a look a closer look at one of the charts.

This week’s topic: Global economy: Business activity.

  • On November 23, we get global purchasing managers’ indexes (PMIs), a monthly survey of purchasing managers, for November. Many countries in Europe have reimposed lockdown measures, so these PMIs could be an early reading of the weight of those lockdowns on economic activity.
  • U.S. growth is widely expected to slow in the fourth quarter, but not tip into recession. Other countries that are imposing stricter lockdown measures may not be as lucky.
  • Thankfully, any slowdown in the fourth quarter could be followed by an aggressive recovery as vaccines start to be distributed. Winter could be a period of discontent, but while winter is coming, spring is coming, too, and that could be better than expected.

Get more charts and insights like this by downloading our Q3 Market Optics chartbook today.


All investing involves risks, including the possible loss of principal. There can be no assurance that any investment strategy will be successful. Investments fluctuate with changes in market and economic conditions and in different environments due to numerous factors, some of which may be unpredictable. Each asset class has its own risk and return characteristics.



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