Market Pulse
GC
bullish 33% (3 votes)bearish 33%
ES
bullish 0% (2 votes)bearish 50%
ZN
bullish 0% (1 votes)bearish 0%
Discussion
Richmond manufacturing alone rarely reprices the front end, but a weak read across the headline, shipments, and services revenues together would start to build a case for softer activity that the 2Y a…
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Richmond Fed services revenues paired with the manufacturing and shipments prints give a composite Fifth District activity read, but with the 2Y sitting at 4.24% — already embedding a cautious easing …
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The services and manufacturing reads out of Richmond both softened, and that’s nudging front-end yields lower while the dollar index slips toward 118—consistent with a market that’s pricing a slightly…