Business

The last two months have seen a major divergence between PMI and ISM Manufacturing reports (as the former confirmed today at its lowest final print since September). May's final print of 52.7 was slightly above expectations and the preliminary print.

This is the lowest 'final' print for US Manufacturing PMI since September (while ISM rebounds)...

This follows China's Manufacturing PMI 'contraction' overnight...

Authored by Charles Hugh Smith via OfTwoMinds blog,

All the "fixes" have fatally weakened the real economy, and created a dangerous illusion of "wealth," "growth" and solvency.

The "fix" of the last eight years worked, right? This was the status quo's "fix":

Bitcoin has retraced over half its losses from last week's tumble, rallying back above $2450 oveenight after news that China's three largest bitcoin exchanges are allowing customers to withdraw bitcoins from their accounts.

As CoinTelegraph reports, on May 31, local Chinese Bitcoin and cryptocurrency news source cnLedger reported that OKCoin China resumed withdrawals for traders.

S&P futures are little changed this morning, while Asian shares rise and European stocks (+0.5%) are poised to snap a five-day losing streak amid a broad-based rally. The pound declined as better-than-expected manufacturing data failed to offset political risk before the impending election, while crude oil gained.

Content originally generated at iBankCoin.com