US indexes suffered at the hands of another strong ISM Services print. Equities fell, S&P 500 closed below the 50d (4475), and US Treasury rates rose after August services data came in higher across the board. The ISM Services Index (act. 54.5, est. 52.5) posted the highest level in six months, while ISM Services Employment (54.7) is the highest since November 2021. In addition, services prices paid increased for the second month in a row. These increases do not bode well for future inflation d…
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