There are signs of a pick-up in German activity in the details from the IFO survey. A long in Nat Gas looks increasingly compelling, while US Manufacturing keeps rebounding as well.
![Something for your Espresso: The Manufacturing versus Services conundrum continues](https://stenoresearch.com/wp-content/uploads/2023/01/Something-for-your-espresso-1080x675.png)
There are signs of a pick-up in German activity in the details from the IFO survey. A long in Nat Gas looks increasingly compelling, while US Manufacturing keeps rebounding as well.