US May Markit services PMI 58.4 vs 54.5 exp

  • Highest since March 2012
  • Prior was 55.6
  • Composite index at 58.6 vs 55.6 prior
  • Composite highest since April 2010
  • Employment 53.2 vs 51.7 prior

The market impact of this report is low (but rising) so there hasn’t been much of a kneejerk. Still, it’s turning into a good news day for risk assets.

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