Key News
Asian equities were mixed on the great news of a debt ceiling deal and some belief that the Fed may pause in June, though fixed income futures appear to disagree.
Caixin released the May Manufacturing PMI overnight, which came in at 50.9 versus expectations of 49.5 and April’s 49.5. The Caixin PMI survey is called the “private” as the survey, as it is conducted by private company IHS Markit (now owned by S&P) and focuses on small and medium enterprises (SMEs) versus the “official” PMI’s focus on large companies. However, the Caixin survey polls fewer people than the official PMI, leading to higher volatility.
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