Afternoon Note
This morning’s Service PMI moved the market more than the jobs report because it’s clear the service economy wheels are coming off.
The initial reaction following the released of ISM Service data was a substantial drop in 10-year yields below 4%.
Banks continue to be the strongest group again.
The rally is running out of steam as yields move higher, let’s see if the S&P 500 can hold onto gains.
Comments |
Inflation may be down and not increasing, but prices are still way over what they should be to eat out anywhere. In addition, many states, including our state, Washington, who, has to highest minimum wage in all the states, has just raised it's minimum wage again. Shoppers have celebrated during the Christmas Season, but not it's time to stop, and they are! Lorin Kenfield on 1/5/2024 1:37:27 PM |
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