US Stocks’ Boon Is Global Stocks’ Bane

(1) More good news for US economy, which is bad news for other economies. (2) US economic strength giving confidence to Trump to escalate trade war and to Powell to raise rates. (3) Three whammies for emerging market economies. (4) New factory orders tumbling in Germany. (5) Wage inflation unnerves bond yield, which remains a tad below 3.00%. (6) US yield would be higher but for global influences. (7) No weakness yet in global forward revenues. (8) Global M-PMI is down since late last year. (9) Commodity prices also signaling global weakness.