Archived IMT (2008.11.03)

Stocks and risk appetite sink back to negative territory after the manufacturing ISM dropped to 38.9 in October, posting its fastest decline since. The subindices on new orders, employment and prices paid also dropped to their lowest level since the 1980 recession, affirming this will be a long standing recessio. But the dollar continues to be dictated by risk appetite, pushing higher vs European and antipodean currencies along with the yen.