Markets worldwide are still being predominantly driven by macro economic news, according to Henderson Global Investors.
Adrian Pankiw, a strategist for the group, claims negative data like last week's US jobless figures, have called economic recovery into question and consequently stalled market rallies. US government data for June showed nearly 473,000 Americans lost their jobs during the month, compared to a projected figure of a little under 400,000. "Global asset markets continue to be driven by macroeconomic data and news flow," says Pankiw. "The rally in risk assets - sustained by positive macro indicator surprises - seems to have stalled as the strength of the economic recovery has been broug...
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