Following the massive Chicago PMI drop yesterday, there were those who expected reality to revert and today's mfg ISM to plunge. No such luck, in fact the Manufacturing Data just came out and destroyed every single convergence thesis, printing at 54.8 on expectations of 53.0, and up from the March print of 53.4. This was the best ISM beat in 7 months, following the worst PMI print in 2.5 years yesterday, also the biggest MOM jump since June 2011, and the biggest 2 month rise since April 2010. Go figure. The only one who predicted the correct outcome? Why Zero Hedge, courtesy of none other than Joe LaVorgna.
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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