Here's Why the US Manufacturing Surveys Are Diverging So Dramatically...

Here's Why the US Manufacturing Surveys Are Diverging So Dramatically... Update (1015ET): As we noted below, there was a significant divergence between the two manufacturing surveys for July... which is not that unusual, and also an odd divergence between falling inflation expectations and universally rising commodity prices. Based on the responses to the ISM survey, we may have found the answer... and it's a familiar one in this bifurcated economy... Green ones from AI, semicon...