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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?


To: Cogito Ergo Sum who wrote (8510)6/30/2004 10:31:09 AM
From: mishedlo  Read Replies (1) | Respond to of 116555
 
Chicago PMI factory gauge at 56.4% in June
Wednesday, June 30, 2004 2:18:39 PM
CHICAGO (AFX) -- A measure of manufacturing business in and around Chicago stood at 56.4 percent in June, the Chicago Purchasing Managers group said Wednesday. The pace of expansion is much slower than economists were expecting. The average of a survey conducted by CBS MarketWatch was for a reading of 65.2 percent for this month. The index has shown expansion for 14 straight months. The report is a diffusion index; readings above "50" indicate expansion.



To: Cogito Ergo Sum who wrote (8510)6/30/2004 11:13:08 AM
From: mishedlo  Respond to of 116555
 
Everyone was waiting for the FOMC reaction on treasuries.
The market decided not to wait.
Huge rally in treasuries on Chicago PMI after a stupid shakeout attempt yesterday on consumer confidence numbers. Yesterday's shakeout/selloff died and reversed into a rally. Add it up and anyone who bought treasuries on yesterday's selloff is very very happy now.

Mish