ism non-manufacturing

You Have To Try Really Hard Not To See It

By |2019-11-06T22:11:06-05:00November 6th, 2019|Economy, Federal Reserve/Monetary Policy|

In early September, the Institute for Supply Management (ISM) released figures for its non-manufacturing PMI that calmed nervous markets. A few weeks before anyone would start talking about repo, repo operations, and not-QE asset purchases, recession and slowdown fears were already prevalent. It hadn’t been a very good summer to that end, the promised second [...]

It All Comes Down To The Service Sector

By |2019-09-05T18:00:57-05:00September 5th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It was framed as a good news/bad news sort of situation. For many, the entire issue of possible recession revolves around the service sector. As far as manufacturing goes, no one will argue otherwise; it’s already in trouble. But it’s a much smaller slice of overall economic activity, and unless we are talking 2008 levels [...]

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