The shale revolution in the US energy sector has flipped US trade data on its head.
The forex market has been relatively calm over the past couple of months. The Gavekal Capital FX Volatility Index has declined since early August and is now at a level that is slightly under the average volatility level since 1980.
China’s role in keeping the global economy from falling into a more severe recession, or even a depression, during the financial crisis is probably greatly underappreciated.
Certainly, no one is implying that the U.K.’s economic situation is anywhere near as precarious as that of Greece. We just wanted to point out a peculiar oddity of which we were not previously aware, whatever the investment implications may be.