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More important than any economic indicators this week will be whether there is more bad news indicating that the banking crisis is far from over. No news would be good news. That's what we're rooting for.
We are expecting some bad news from the March regional business surveys conducted by the Federal Reserve Banks of Dallas (Mon) and Richmond (Wed), confirming the recessionary readings of the NY, Philly, and KC surveys. If so, then we can expect that March's M-PMI will remain under 50.0 (chart).
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