I am not one to make predictions but perhaps let the data speak for itself.

The PMI or purchaser manufacturing index in various countries is always the indicator a lot of smart money would watch to indicate the general health of the economy.

It surveys the purchasing managers and the aggregate of their views gives us a glimpse of how they see the manufacturing outlook going forward. Coming into the start of 2020, the PMI roughly hovers around the 50 line, which does not indicate strength.

Global PMI looks weaker than the US one. This was all before World Ex Asia got spooked by Covid-19.

Of course, the key to see is also how the China PMI is going to do.

One day later, China announced its PMI. This PMI reading for the month of February, is even worse than