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The Numbers

ISM Services: Recession Warning

by Felix-Antoine Vezina-Poirier, Chief Strategist  

The March ISM Services report sent a recessionary signal, supporting our defensive positioning. The headline index fell sharply to 50.8 from 53.5, missing expectations. New orders dropped to 50.2, while employment collapsed to 46.2 from 53.9. Prices paid also…

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