Tuesday, June 28, 2011


Without a doubt, econodata from all around the world has been weak. Manufacturing being the weakest, we are to emphasize on Richmond FED mfg's index this morning. After all it is mfg data that got the ball rolling on the downside a few months ago, the first of warning flashes we got. So this is the first time in the last few months that it came in higher than expected. As always with econo numbers, you have to get a few numbers going one way or the other in order to see a trend change. But this morning's number is a possible break of downtrend in mfg numbers. We are to monitor the developments and see if this is in fact a turnaround, or merely a pause before continuation of weakness...

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