Chart: DM Flash PMI vs 10 Year Bond Yields

Another bond/macro chart, here's the flash composite DM manufacturing PMI against the US 10 year bond yield.  The composite DM flash PMI (we construct using Markit data and IMF GDP weights) dropped -0.5pts in August to a 14 month low of 54.2.  Japan bucked the trend, up +0.2pts to 52.5, while the US dropped the most, down -0.8pts to 54.5 and Europe also down -0.5pts to 54.6.  The chart is helpful in explaining why the upturn in exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here

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