Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today
Already have an account? log in
Early Look At July PMIs Hints At Stagflation For America
US factory activity stabilized in July, while the services sector cooled, data released on Monday suggested.
Market participants are accustomed to the opposite conjuncture. Month after month, investors are subjected to tales of manufacturing malaise juxtaposed with relatively good news on the services side, where businesses continue to benefit from pent-up demand, legacy savings buffers and "switching," as Americans favor experiences over "stuff."
In July, though, S&P Global's factory gaug
More data supporting the higher-for-longer thesis. At this point, it would seem, the only way to squash corporate “greedflation” is to squeeze the consumer and suppress demand. Chair Volcker, er, Powell, understands that.