Markets in the US and Europe have been on a tear (the last couple days notwithstanding) and there are generally two reasons give for why: A hope that the Euro disaster scenario won’t play out and firmer economic data.
So has the data really gotten firmer, or has it just been a few blips?
We’re about to find out over the next several hours as Markit releases its first batch of “Flash” PMI readings for China, France, Germany, The Eurozone as a whole, and then the US.
These numbers give a little taste of the real PMI numbers that come out on the first day of every month that everyone watches obsessively.
The first Flash PMI is in China and that comes out at 10:30 PM ET. We’ll be covering that LIVE.