Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities.
Chinese equities. Coal. Emerging market equities. Gold. U.S. Treasuries. U.S. high-yield bonds. They have all joined the joyless parade of assets gone bad or threatening to go that way. By contrast, American equities lead the shrinking procession of assets still performing reasonably well. June employment numbers, released on Friday, beat expectations too. That is both good and bad for the U.S. stock market.