Pivot talk killed by resilient services ISM read
Thursday 6th October 2022NAB Markets Research DisclaimerFinancial Services Guide | Information on our services - NABYesterday’s vain hope of a pivot by the Fed, to slow down rate rises after the weaker job openings numbers, were destroyed today by a stronger than expected non-manufacturing ISM read. Not only was the main number higher than anticipated, at 56.7, new orders were strong too. It was another of those good news is bad news moments, because its unlikely the Fed will consider any slow down in their path of rate hikes when the economy is showing strong growth against a tight labour…
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