The flash Composite PMI came in slightly stronger than expected–although it notes that employment is softening somewhat. Does this bode well for a soft landing?
The report also made note that inflationary pressures are easing a bit.
Seems to me the report is near ‘Goldilocks’ – not too hot or too cold. The 10 year treasury moved slightly higher on the report – now up 4 basis points to now at near 4.88%.