Treasury Yields Plunge And Reverse Higher
Written by Jim Welsh
Macro Tides Weekly Technical Review 12 July 2021
Manufacturing and Services are Hesitant
The ISM Services PMI released on Tuesday July 6 declined from a record high of 64.0 in May to 60.1 in June and far weaker than forecast. This immediately raised alarm bells about how fast the economy was slowing. Concerns about the Delta variant also raised concerns that the economy might have to endure measures to slow the spread of this new highly contagious variant. Treasury yields plunged by more than 16 basis points from their July 2 close and the intraday low on July 8.
Source: http://econintersect.com/pages/investing/investing.php?post=202107122359
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