The MBS Slope n’ Swap

Iran’s parliament speaker, Mohammad Bagher Ghalibaf, said in a statement on Wednesday that the US had violated “three clauses” of Iran’s 10-point ceasefire proposal. “The deep historical distrust we hold toward the United States stems from its repeated violations of all forms of commitments — a pattern that has regrettably been repeated once again,” Ghalibaf […]

Weather & Weak Demand Drive US PMIs Down To 10-Month Lows In February, But... While 'hard' data has been fading modestly in recent weeks, 'soft' survey data has bounced back but today we get a first glimpse at February's PMIs from S&P Global to see if that survey-based confidence is continuing. It is not as both Manufacturing and Services PMIs dropped notably., Flash US Services PMI Business Activity Index: 52.3 (January: 52.7). 10-month low. Flash US Manufacturing PMI: 51.2 (January: 52.4). 7-month low.    Source: Bloomberg Overall that dragged the US Composite PMI down...