Thus Spake the Markets

(1) What are markets saying about the global economic outlook? (2) The best real-time indicator of global business activity. (3) Is 2010 shaping up as a repeat of 2008? (4) Emerging markets holding up, with one big exception. (5) Capital goods heavy stock markets resist double dippers. (6) Trevor Greetham sees a two-year cycle. (7) Bonds by default. (8) Cooling PMIs. (9) Hot chips. (10) Capital goods orders are good. (11) IT underperforming now, but should outperform later. NOTICE: Our Morning Briefings are now available on FactSet.