A light at the end of the tunnel is growing visible in Europe.
Yesterday, when various PMI surveys were released around the world, it was Europe that was surprisingly strong across the board. Even the periphery was very strong.
This is huge, since it means there’s life even amid austerity in these countries, and if that’s the case it stands to reason they could make progress on their deficits, and if that’s the case, then there’s a path for the crisis to end.
It’s just a couple of datapoints, but you can’t ignore them.
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