--- title: Fireside Charts: Small Caps and Transportation Shares Tumble, Europe Manufacturing Meltdown, Emerging Market Relative Performance May be Bottoming description: Market highlights in charts - what you need to know for your week explained image: https://1782947.hs-sites.com/hubfs/6.26%20chart%206-1.png --- - [Login](http://investbcm.com/wp-login.php) - [Register](http://etf.investbcm.com/register) [![Beaumont_Logo_4C - powered by AIM](https://1782947.hs-sites.com/hs-fs/hubfs/Beaumont_Logo_4C%20-%20powered%20by%20AIM.png?width=429&height=254&name=Beaumont_Logo_4C%20-%20powered%20by%20AIM.png)](http://investbcm.com/) **A Bird's Eye View Blog** # Fireside Charts: Small Caps and Transportation Shares Tumble, Europe Manufacturing Meltdown, Emerging Market Relative Performance May be Bottoming By:[BCM Investment Team](http://1782947.hs-sites.com/author/bcm-investment-team) | Date:Jun26, 2019 | [Category:](http://1782947.hs-sites.com) [Equity](http://1782947.hs-sites.com/topic/equity), [Economics](http://1782947.hs-sites.com/topic/economics), [Market Highlights](http://1782947.hs-sites.com/topic/market-highlights), [Fireside Charts](http://1782947.hs-sites.com/topic/fireside-charts) Two groups of stocks are about to send crisis-era signals on the economy. Do you know which ones they are? The Dallas Fed Manufacturing Index was the third regional index this month that came in well below economists' forecasts. Weakness in the Europe's manufacturing sector is showing up in the labor markets. In an update in emerging market performance, the EM equities' under-performance bottoming? Over in Taiwan, their industrial production slowed more than expected.   1. A good question...   ![](https://1782947.hs-sites.com/hubfs/6.26%20chart%204.png) Source: Bloomberg, as of 6/21/19     2. Another big miss from the Dallas FED; the third big miss this month. It looks like the U.S. will likely be in a manufacturing recession next month...   ![](https://1782947.hs-sites.com/hubfs/6.26%20chart%209-1.png)  Source: WSJ Daily Shot, as of 6/24/19     3. In Europe, the manufacturing slowdown is spilling over into the labor markets...   ![](https://1782947.hs-sites.com/hubfs/6.26%20chart%201.png)  Source: European Commission, as of 6/25/19     4. Where are the negative yields? The Swiss 30 year bond turned negative yesterday...   ![](https://1782947.hs-sites.com/hubfs/6.26%20chart%202-1.png) Source: Refinitiv, as of 6/25/19     5. A falling USD would help EM equities...but the USD has not been cooperating...   ![](https://1782947.hs-sites.com/hubfs/6.26%20chart%203.png)  Source: Alpine Macro, as of 6/24/19      6. Is it time for EM to lead the way?   ![](https://1782947.hs-sites.com/hubfs/6.26%20chart%206-1.png)    Source: Supreme People's Court, as of 6/24/19     7. Can the phrase 'Don't fight the FED" get overwhelmed?   ![](https://1782947.hs-sites.com/hubfs/6.26%20chart%205.png) Source: BCA Research, as of 6/24/19      8. Our southern neighbors are struggling too...   ![](https://1782947.hs-sites.com/hubfs/6.26%20chart%207.png)    Source: WSJ Daily Shot, as of 6/21/19     9. While it may not feel like it, but it looks like the world is headed into a manufacturing recession.   ![](https://1782947.hs-sites.com/hubfs/6.26%20chart%208.png)  Source: WSJ Daily Shot, as of 6/21/19       In Monday's blog, the BCM Investment Team reminded our readers that the trade war started over a year ago in March. Have you felt the consequences yet? Even if you have not, prepare for any and future losses in our *Investment Losses* piece below.   Read on about what risk means to you as an investor, and how to theorize and digest losses in terms of investment returns, time, and dollars below.   [![Full Post: Investment Losses](https://no-cache.hubspot.com/cta/default/1782947/a43490fe-8d30-4826-8926-8492dcc7bfbb.png)](https://cta-redirect.hubspot.com/cta/redirect/1782947/a43490fe-8d30-4826-8926-8492dcc7bfbb)       Disclosure: The charts and info-graphics contained in this blog are typically based on data obtained from 3rd parties and are believed to be accurate. The commentary included is the opinion of the author and subject to change at any time. Any reference to specific securities or investments are for illustrative purposes only and are not intended as investment advice nor are a recommendation to take any action. Individual securities mentioned may be held in client accounts. 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