Morningstar's markets editor, Jeremy Glaser, highlights ten unnerving statistics from the third quarter as we move into the final three months of the year...
The third quarter of 2012 might have been less scary than in years past, but there was still plenty of bad news in the marketplace.
Every quarter, I take a look at some numbers that jumped out at me. Here are some notable ones for the most recent three-month period:
Yield on Spanish ten-year bonds. Despite a dip after the European Central Bank's (ECB) pledge to do “whatever it takes” to save the euro, Spanish bond yields are once again near an unsustainable level as the market continues to be sceptical that Europe's plan to save itself will go off without a hitch.
Ten frightening numbers from Q3
Euros worth of bonds purchased under the ECB's new Outright Monetary Transaction plan that is meant to support bond yields of indebted countries. The ECB cannot act to bring down Spain's borrowing costs until the Spanish government formally agrees to a bailout from the European Commission, something Spain has been pushing off as long as possible.
Decline in Facebook's stock price during the third quarter. Just a reminder that the most hyped stock is not always the best one.
Price/fair value of the all stocks covered by Morningstar's equity analysts. After the big run-up in stock prices during the last quarter, stocks look to be fully valued. It is getting harder to find cheap stocks.
August reading of the HSBC China Manufacturing PMI, the lowest level in 41 months. The decline in China's important manufacturing sector raises big questions about the country's ability to gracefully shift down to a more sustainable growth path.
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