The ISM Services index tumbled to 48.8 in June from 53.8 in May, well short of the 52.7 consensus expectation. Only eight of 18 industries reported growth for the month – down from 13 in May. The business activity sub-index and new orders signaled shrinking activity, falling 11.6 and 6.8 percentage points, respectively, to 49.6 […]
Markets Fed chair Powell laying the groundwork for a pause, possibly already in January, caused a late-session sprint in front-end US rates yesterday. In the first part of today’s trading, however, yields lost several basis points again, showcasing the fatigue that’s creeping in after a stellar October rebound. The US eco calendar had market-moving potential. […]
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