Remarkably little interest in one of the more important data releases of the month.
We’ve seen most of the regional Fed manufacturing indexes downshift this month and now we’ve seen the PMI from the nation’s manufacturing heartland come in weak (62.2 in March from 64.0 in February) and the market doesn’t care.
Can’t believe the QE3 war drums aren’t beating.
US yields are already over 20 bp below their highs earlier this month but are holding above important technical support at the 2.09/2.10% level.
EUR/USD remains glued to the 1.3350 area, suggesting there are expiries at that level at 14:00 GMT. Perhaps we see some action after the clock strikes 10:00 in NYC.
