An extremely weak ISM figure, getting close to recessionary levels, should be a catalyst for Congress to pass the bailout plan as things are going to get dramatically worse as credit becomes more constrained. A call to arms, as it were. Employment was very weak, suggesting poor payrolls tomorrow.
A weak US economy is not exactly a surprise, so expect the focus to remain on the credit cycle and hopes that the US will respond more forcefully than the eurozone.
