Inflation fears
It’s paradoxical but the poor US jobs report has brought inflationary fears back to the forefront of market concerns. The Nasdaq plunged by 2.6% yesterday…
Purchasing managers’ indices continue to be close or at historical highs in the manufacturing industry, pointing to strong growth in this sector. The small decline in the US ISM only shows that activity has ceased to accelerate in April. Bond yields are marginally down and the USD is rather stable: the EUR/USD exchange rate is trading in a narrow range around 1.2030.
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