The Telegraph in the U.K. has a story with a twist about the effects of high tax rates (note ’50p’ means 50%, not 50 pence):
The amount of income tax paid fell sharply last month in the first formal indication that the new 50p higher rate is not raising the expected amount of revenue.
Not to make too much of one data point, but one of the good things about ISM data is that unlike tomorrow’s employment report, it is final. Whatever numbers the Labor Department reports tomorrow will be revised and re-revised.
Stock traders were mildly encouraged by today’s report from the Institute for Supply Management about [...]