Fed Fails To Cool US Services Sector, Risking Prolonged Inflation Battle

US manufacturing is beset, but services activity across the world's largest economy is resilient. What else is new, right? More to the point: What else is news? Flash PMIs from S&P Global released into an early summer void on Friday were underwhelming, but mostly inconsequential. Earlier, readings out of Europe suggested the region's tentative rebound from a shallow winter recession may be fading already, but if we're being honest (and we rarely are), the financial media attention accorded