Richmond Manufacturing Drops by 1/3!

Tuesday 19.40 BST. Disappointing US economic data is driving a surge in demand for low-yielding assets, with the Japanese yen setting another 15-year high and government bonds at further record low yields.
The Richmond branch of the Federal Reserve’s gauge of manufacturing activity for the US’s mid-Atlantic region fell by nearly a third, and sales of existing homes fell 27.2 per cent in July – to the lowest level for 15 years – well past consensus expectations of a 12 per cent decline.