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

To: Elroy Jetson who wrote (22560)	2/1/2005 9:09:34 AM
From: KyrosL	Read Replies (3) \| Respond to of 116555

>>the Fed is not really raising rates<< Really??? Then how come the interest rate on short term government bonds and money market funds rises in lockstep with the Fed funds rate?

To: Elroy Jetson who wrote (22560)	2/1/2005 9:11:16 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Is the interest rate money markets pay going up? If so did that raise rates? Mish

To: Elroy Jetson who wrote (22560)	2/1/2005 9:45:47 AM
From: mishedlo	Respond to of 116555

UK CIPS Jan manufacturing PMI falls to 51.8, weakest since July 2003 Tuesday, February 1, 2005 10:39:17 AM afxpress.com LONDON (AFX) - The purchasing manager index of activity in the UK manufacturing sector slumped to 51.8 in Jan from 53.7 the previous month, marking the second fall in as many months to its lowest since July 2003 The latest reading is also well below market expectations of an increase to 54.0 and paints a picture of a struggling sector. However, as a reading above 50 indicates an expansion in activity, the sector is still managing to grow. The survey is jointly produced by Reuters and NTC Research Growth in new orders weakened to the slowest rate for over one-and-a-half years while the export component of total new business showed a slight contraction for the first time in five months, due to sterling's strength against the dollar, which affected the competitiveness of UK exports Manufacturers also faced rising input prices with those polled reporting high metals, plastics, energy and oil prices. Companies also offset part of the increase in their input costs through lower employment and reduced stock-holding. Staffing levels fell for the second successive month, and at a faster rate than in December