wall street: The reaction was instant, with risky assets everywhere taking a hit and the yield on the 10-year German bond careened to zero, according to Market Watch. German Manufacturing declined to 44.7 vs 47.6 48 expected RIP global manufacturing. Just a day after a rally for Wall Street, Germany dimmed the lights on global growth with the worst manufacturing purchasing managers index numbers in nearly 7 years on Friday. Trinh Trinhnomics March 22, 2019 It's unusual to see such a widespread response to a piece of data like this but we have to remember that this is not a domestic problem. Here's what Fed Chairman Jerome Powell had to say about the region at this week's meeting In Europe...we see some weakening, but, again...we don't see recession, and we do see positive growth still. Germany may be impacted in an disproportionate way because of the size of its manufacturing sector but the causes of the contraction are global, Craig Erlam, senior market analyst with Oanda, told Market Watch.
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