Another wave of downbeat economic data confronted traders today with ISM Services coming in below all estimates while prices paid increased, showing that firms are facing rising costs and softer demand. The data also evidenced the largest decline (-15bps) of personal spending in the first half of the year that we have seen since the pandemic. Suffice it to say the accompanying sell off was sharp with the S&P500 and Nasdaq closing around Monday’s opening levels. Earnings have tapered out after l…
The content on this site is available to all Redburn clients as part of Redburn Execution’s standard service. It is not considered substantive research and there are no commercial implications to viewing these pages.
Please enter your email address below to view this page. If you are still unable to access the page, please speak to your account manager.