![]() ![]() ![]() stocks began to outperform, the enormous jaws began to close and took a big bite out of the portfolio of investors who hadn't rebalanced away from international stocks. But, in the late 1980s, the jaws were gaping wide after about a decade of international stock market outperformance. There were numerous baby shark attacks around recessions in the 1970s and 2000s. Note that while the drop in 2012 on the chart isn't matched with a global recession, both Europe and Japan did suffer recessions at that time, softening global demand for boxes. The latest drop is reminiscent of the demand behavior during those shaded periods on the chart below denoting global recessions. Demand for corrugated linerboard, what most cardboard boxes are made from, has fallen similar to past recessions, as per data from the Fibre Box Association. We're referring to this phenomenon as a Cardboard Box Recession, because items that are made (manufacturing) and shipped (trade) tend to go in a box. ![]() Yet, over much of the past year, only manufacturing and trade seem to be in a global recession, according to indicators such as industrial production, worldwide trade volumes, job growth by industry, surveys of purchasing managers at manufacturing companies, and many others. Environmental, Social and Governance (ESG) InvestingÄuring the typical global recession, all areas of the economy (like manufacturing, services, retail, construction, and trade) tend to turn down around the same time.Bond Funds, Bond ETFs, and Preferred Securities.ADRs, Foreign Ordinaries & Canadian Stocks.Environmental, Social and Governance (ESG) ETFs.Environmental, Social and Governance (ESG) Mutual Funds.Benefits and Considerations of Mutual Funds. ![]()
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