A Warning Light In Taiwan

yellow traffic

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From BTIG’s Dan Greenhaus:Taiwan’s export orders for June were weaker than expected, rising 9.2% from one year ago, much less than consensus. While Taiwan is not central to the thesis, we do observe that exports to Japan, which fell by over 7% in the month of May, bounced back by less than 1%. While improving export numbers are better than declining numbers, that the bounceback was so lackluster was disconcerting. Further, exports to Europe fell by 3.2%.

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