The ECRI Weekly Leading index dropped 1.1 this week and is down -1.26% year over year.
ISM Manufacturing dropped to 52.1 from 52.8 previously.
ISM Non-manufacturing picked up to 56.9 from 55.5.
Non-farm payrolls grew by only 75k from 224k in the previous month.
Broad markets had a good week. The Dow was the leader, gaining 4.85% (DIA).
The VIX closed the week down -12.83% at 16.30.
We mentioned a sellable bounce could materialize. We are in that bounce. Markets are no longer oversold.
Lumber gained 0.68% against Gold last week.
Copper declined -3.06% against Gold last week.
High Yield bonds (JNK) gained 1.72% against Treasuries (TLT)
Stocks gained against bonds and gold last week (VT:IEF = 3.23%) (VT:GLD = 1.07%).
The 10 year yield was down 5 basis points to 2.09%
Precious metals were up 2.73% for the week.
Industrial metals were down -1.32%.
Emerging market bonds rallied 1.88% (EMB).
The Euro gained 1.50% against the dollar and 1.21% against the Yen.
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