The sentix economic expectations literally collapse in June. At -13.3 points, expectations are at their lowest level since August 2012! The overall index also falls significantly.

The current economic engine in Europe, the German economy, is also under pressure. For the fifth time in a row, the overall index for Germany has fallen to its lowest level since July 2016.

Internationally, the US economy is proving relatively robust, although the negative expectations of investors here also signal that the USA should not overstretch the curve. The Asia ex Japan region remains a source of hope for the global economy, where only positive expectations can be measured.