The lazy, hazy summer doldrums can be exhausting and we've certainly experienced it all this week. No matter the news, the PMs have been driven lower, particularly during Comex hours. So let's begin to wrap this week up in the expectation of taking a few days off and then, perhaps, doing a little better next week.
Let's start with today's data...the latest update on producer prices in the US. It came in slightly hotter than expected. However, that was only due to a huge jump in the cost of "money management services". Seriously. Without that item, the number would have been right...
