US economy is neither booming nor busting – SocGen

A nice bounce in the US ISM, and an even nicer one in the forward-looking version that comes from subtracting inventories from new orders, has kept the sell-off in treasuries going and will continue to put floor under the dollar in a holiday-reduced trading day, according to Kit Juckes, Research Analyst at Societe Generale.

Key quotes

“The US economy is neither booming nor busting. It's growing at around a 2% clip on the back of soft productivity, solid employment growth, somewhat hamstrung fiscal policy and basically, a lack of catalysts to create either acceleration or deceleration. Market sentiment bounces around, as it must, but there's more sound than fury and none of it signifies much at all.”