New information from various sources all around the US service sector shows a downturn taking hold in that segment with employment signals turning more and more negative. It confirms the ongoing and more decisive bull steepening continuing to take shape in the Treasury market. Even mainstream sources are having to cover the fact there is something big happening when you can see it in services. Eurodollar University's Money & Macro Analysis CNN A key part of America’s economy has shifted into reverse https://www.cnn.com/2024/07/07/economy/stocks-week-ahead-services-sector-slow-restaurants-stores/index.html FRB Philadelphia August 2024 Nonmanufacturing Business Outlook Survey https://www.philadelphiafed.org/surveys-and-data/regional-economic-analysis/nbos-2024-08 Fifth District Survey of Service Sector Activity https://www.richmondfed.org/region_communities/regional_data_analysis/surveys/service_sector Texas Service Sector Outlook Survey https://www.dallasfed.org/research/surveys/tssos/2024/2408 https://www.eurodollar.university Twitter: https://twitter.com/JeffSnider_EDU