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NYLON HANDOVER: Global manufacturing on the rise

Asia kicked off the PMI data set with a 'positive negative', to see US and Europe up the ante and expand at a faster rate. 





- During the session of international manufacturing data releases it was the UK which surprised the most to the upside, with the gauge accelerating its expansion from 51.5 to 55.5. Sitting at a 6-month high, output and new orders rise their fastest in six months to suggest a cycle low may have been seen for the UK manufacturing sector. The official press release can be viewed here. 
- US Manufacturing expanded at 50.1 but a closer look at the data reveals potential trouble ahead for employment, having dropped suddenly to 47.6 vs 50.5 previously and breaking a 5 month bullish trend. More details can be viewed seen here.
- Global bond yields and stocks rose in line with investor sentiment, sending VIX and VVIX (volatility of volatility) lower. 
- Eurozone final PMI data was also given a boost, being revised up from the original 52 to 52.3
- However Eurozone bond prices lost a little ground after ECB made comments which slightly cooled expectations of further stimulus. 
- Main event in Asia today is RBA Cash decision and statement at 2:30pm Sydney. 




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