Slow recovery expected; US leading index decline continues in June

Summary: Conference Board leading index down 0.2% in June, smaller than expected decline; CB: fuelled by gloomy consumer expectations, weak new orders, negative interest rate spread, initial jobless claims; US Treasury yields up; rate-cut expectations soften; CB: activity likely to continue to lose momentum in months ahead; regression analysis implies flat GDP in year to September. The Conference Board Leading Economic Index (LEI) is a composite index composed of ten...

read full story