On the front page of the Financial Times July 2nd, the lead article was titled Signs of global recovery in data . It stated that any euphoria about the encouraging data is muted by serious concerns that any “recovery” will not be sustained.
Moreover, the positive news was more couched in terms of the global financial crisis ending as opposed to than the global recession ending, particularly in Western markets in the US and North America, the UK and Europe, Japan, Australia, etc.
By the end of the day, markets in America had sufferred a crushing blow based on worse than expected employment data. Today’s FT headline: US jobs data scupper lingering optimism over speedy recovery
The Age of Turbulence is in full force. The best businesses will manage accordingly.