Does a Broader Rally Mean a Healthier Rally?

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What’s in Today’s Report:

  • Does a Broader Rally Mean a Healthier Rally?

Futures are modestly higher following a generally quiet night of news and after economic data was better than expected.

UK and EU flash PMIs beat estimates (EU PMI rose to 52.1 vs. (E 51.6) while the UK PMI jumped to 52.5 vs. (E) 51.5) implying stable global growth.

Treasury yields are little changed overnight and the lack of a continued rally is helping futures lift.

Today focus will stay on economic data via the Flash Manufacturing PMI (E: 53.7) and Flash Services PMI (E: 53.8) and Goldilocks numbers (headline readings that meet or slightly beat estimates and no big increases in the price indices) should keep yields stable and help stocks rebound.

 

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