Archive for July 6th, 2015

Deeper Analysis

Only a Marginal Change in U.S.-Minus-Eurozone PMI Spreads

July 6, 2015

The U.S. non-manufacturing PMI rose 0.3 points to a two-month high of 56.0 in June.  The advance in the index was half as much as the increase in Euroland’s services PMI from 53.8 in May to a 49-month high of 54.4 in June.  The differential between those two indices narrowed by 0.3 points to 1.6, […] More

New Overnight Developments Abroad - Daily Update

Greek Voters Send Message

July 6, 2015

The “No” margin of victory, which exceeded 61% of the vote, far surpassed all expectations and has exposed the Achilles Heel of the common European currency experiment, namely its lack of adequate popular mandate ever since the project’s inception.  The Maastricht Treaty upon which EMU is based had to be ratified by all participating nations, […] More