Like a hurricane spinning off shore, many analysts and investors expect headwinds from economic data to rock the stock market in September.

Like a hurricane spinning off shore, many analysts and investors expect headwinds from economic data to rock the stock market in September.

The better than expected Chinese PMI and Australian GDP gave risk appetite a boost and allowed for the accumulation of risk-correlated trades. However, our gut feeling is that the summer risk on/off pattern is still in effect and we suspect the Asian momentum will fade as we get a slew of economic data today. The Asian surprise print help momentarily suspend the market’s obsession with global…