The manufacturing ISM points to strong growth… and inflation
Markets are hesitant. It is a case of the glass being half full or half empty. The manufacturing ISM, the main US leading indicator, was…
As expected, the House passed the stimulus bill yesterday. First checks will be sent as soon as this month the Treasury promised. In parallel, the bond market was reassured by lower-than-expected core inflation figures and a quiet 10-year Treasury bond auction. The US 10-y bond yield eased slightly further and the stock market posted some gains, except the Nasdaq that was marginally down. The USD lost some ground, the EUR/USD coming back above 1.19. The ECB meeting will be the main event today.
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