Shortly after the latest deteriorating ISM data was released yesterday, which showed that the US services sector was rapidly following US manufacturing into contraction, we had one question: how long until Goldman flip-flops again, and changes its surprising call from last Friday which bucked the Wall Street trend and boosted September rate hike odds from 40% to 55%, which in turn almost singlehandedly catalyzed a kneejerk reaction in Fed Fund futures on Friday, sending them virtually unchanged on the day of Friday's disappointing jobs report. We didn't have long to wait: overnight Hatzius did just that, when he said ... (full story)