Nonconsensus

Nonconsensus

RoW Resilience

The latest PMI stats suggest developed economies outside the US are recovering steam from earlier in the year just at a time when the US seems to be showing some signs of exhaustion.

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Bob Elliott
Aug 21, 2026
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The start of the year marked some of the best relative performance of foreign equities we’ve seen in a long time, particularly among developed economies like Europe and Japan. While many connected t…

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