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by Tyler Durden
Monday, May 17, 2021 - 09:40 AM
Looking forward at the coming relatively quiet week, the flash PMIs for May (Friday) will be the data highlight but - as DB s Jim Reid notes -
it’s tough to know what they’ll tell us that we don’t already know. Having said that, as we noted previously Deutsche Bank s equity strategist Binky Chadha has previously said that they’ll likely be an equity correction once the ISM rolls over from its current lofty peaks even as growth stays strong.
The ISM has fallen for one month from its peak so it’ll be interesting to see what the flash PMI shows as a guide. April’s composite number was the highest on record at 63.5. The Euro Area composite PMI was at 53.8, the highest since July.
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