FEZ - Dreadful EMU PMI And U.S. Machinations Rival Brexit For Attention

Overview: The S&P 500 recovered from the post-FOMC reversal to close a new 5-month high yesterday, led by technology. Financials were the only main sector to retreat. The large equity markets in Asia, Japan, China, Australia, South Korea, and Taiwan all advanced. Europe's Dow Jones Stoxx 600 reversed its initial gains and is nursing a small loss on the week. US shares were little changed but are being dragged down by the reversal in Europe. Benchmark 10-year yields are softer. Soft inflation data saw the 10-year JGB yield slip to nearly 2.5-year lows of

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