Daily Archives: May 22, 2011

Although the US equity market has now fallen slightly for three successive weeks, there has been no real sign yet of any major crack in market sentiment. This is noteworthy, since there is no longer any doubt that the growth rate of the global manufacturing sector has slowed markedly during the current quarter. Part of this is due to the Japanese earthquake, but the rest is probably due to the more permanent impact of higher oil prices on consumer demand.