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PMI Rises

 

Manufacturing PMI rises to 55.6. The PMI(Purchasing Managers Index) has a long history of correlations with other market psychology indicators such as the Regional Fed Surveys and the SP500. Other market psychology indicators include interest rates, both short-term and long-term, rise as capital shifts into equities and other investment categories associated with an expanding economy.
Some are concerned with rising 10yr and 30yr Treasury rates.  I am not. I am more concerned with consumer delinquency rates, that is the inability to handle debt. This far, these indicators signal financially healthy consumers.