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Services

Signs Of Slowdown: Eurozone Services Sector…
Tokyo Headline CPI Inflation Dips Below 3…
The Service Sector Is Not Immune…
August PMI Data Supports European Bond Outperformance Vs. USTs & JGBs…
Philly Fed Nonmanufacturing Index Relapses…
Is the Relative Manufacturing/Services Weakness Reversing…
Is The Weakness Spreading To Services…

On one hand, China will be exporting deflation to the rest of the world. On the other hand, core inflation is sticky in the US, making the Fed err on the hawkish side. Altogether, these crosscurrents are creating a toxic mix for risk asset prices.

On Resilient Services Versus Weak Manufacturing…
ISM Signals Further Downward Pressure On Goods Inflation…