Economy
Demand Destruction
Earlier today the Global PMI (Purchasing Managers Index) figures for various countries was released, sending bond yields significantly lower and providing an initial boost to U.S. equity markets. According to the preliminary June US PMI data, it currently appears U.S. Manufacturing slowed down considerably, dropping from 57.0 in May to 52.4 in June (56.0 was expectations), and U.S. Services also declined, dropping from 53.4 in May to 51.6 in June (53.3 was expectations).









