Japan Retains Distinction of being the only G7 Country with Sub-50 PMI Composite

From marctomarket.com

Federal Reserve officials, lead by Chair Powell, pushed gently against the more hawkish interpretations of last week's FOMC meeting. Tapering not a rate hike was the focus of discussions. Powell reiterated that price pressures would prove transitory and would ease after the re-opening disruptions settled down. The implied yield on the December 2022 Eurodollar futures fell for the second day, and the cumulative three basis point decline was the most in a month. The 10-year yield was capped near 1.50% and remains below there today. The stronger than expected EMU preliminary PMI did not prevent European bond yields from ... (full story)