A big bounce in ISM Services and suddenly the higher for longer spills-over to equities. The current rebound has higher rates tattooed all over it but is it sensible?

A big bounce in ISM Services and suddenly the higher for longer spills-over to equities. The current rebound has higher rates tattooed all over it but is it sensible?
Will the cyclical upswing be confirmed in European PMIs and German IFO numbers? Markets clearly lean that way, while bets are being removed on a more hawkish BoJ.
Today is a big day for the “rebound bet” as PMIs are out in Europe and in the US. We understand why markets expect a rebound in activity but find the risk/reward lackluster in betting on it.
A rising case count is ultimately the only trigger cable to end to the Chinese zero Covid regime, why the possibility of a reopening is currently INCREASING.
It is time to be humble about inflation. It is tricky to time the peak, why a basket with embedded windshields, should inflation re-accelerate, may be the best choice.
Is this a return to a 70s-like fight between inflation and recession? The energy supply scarcity is likely to bring about yuge business cycle volatility in coming years until the situation is settled.
What happens in markets when the ISM Manufacturing index drops below 50 over the next quarter? We have looked across all assets with interesting findings.