Nascent US Manufacturing Recovery Marred By Inflation Jitters

Behold: A ray of sunshine through the trade storm clouds. The marquee gauge of US factory activity printed a 27-month high in the first of this week's US macro data tsunami. I wouldn't get too excited, though. 50.9 -- the headline ISM manufacturing print for January -- hardly counted as robust. It was just better than consensus, which expected 50 (on the nose). The final read on S&P Global's US factory PMI for January, also released on Monday, was 51.2, up from the flash print and the f

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