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The Institute For Supply Management (ISM) reported that the Chicago Purchasing Mangers Index (PMI) showed an impressive uptick for September: Growth in new orders picked up very sharply in the Chicago area during September, up 8.4 points to 65.3 for the strongest rate of monthly growth since April. Employment rose 8.5 points to 60.6 for [...] I just read a piece from LEAP, a think-tank consortium in Europe, mostly French, which wrote a snide piece on the what they see as the dropping of the second shoe: the liquidation of the remaining malinvestment of bubble assets commencing this Autumn. Specifically they are predicting a drop in Treasurys as a result of our [...] |
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