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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Knighty Tin who wrote (7212)5/28/2004 10:40:16 AM
From: mishedlo  Read Replies (1) of 116555
 
Chicago-area factory gauge at 68.0%
CHICAGO (CBS.MW) -- The pace of Chicago-area manufacturing accelerated in May, according to one measure. The Chicago Purchasing Managers said Friday its index stood at 68.0 percent in May. Economists were expecting a reading of 61.9 percent.
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The market reaction this this was interesting
Treasuries and Eurodollars sold off hard
So factory output is up and consumer sentiment is falling off the cliff and rates are rising
I smell stacking up of inventories rather quickly
Of course... is Chicago really representative of the US?

Mish
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