US ISM Services PMI fell from 54.5 to 53.6 in September, matched expectations. Looking at some details, business activity/production rose from 57.3 to 58.8. New orders dropped sharply from 57.5 to 51.8. Employment dropped from 54.7 to 53.4. Prices was unchanged at 58.9. ISM said: “The past relationship between the Services PMI and the overall […]
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Switzerland’s KOF Economic Barometer declined from 103.0 to 101.7 in February, missing expectations of 102.1. The data suggests weakening momentum in the economy, with most production-side sectors facing increasing pressure. According to KOF, manufacturing and Read more…
BoE Deputy Governor Dave Ramsden indicated a shift in his inflation outlook, stating that he no longer views risks to achieving the 2% target as skewed to the downside. Instead, he now sees inflation risks Read more…
Markets The stars aligned for a significant risk-off correction yesterday. First and foremost, the market narrative changed since the end of last week with investors attaching a higher probability to a mid-term US recession. Especially Read more…