Risk sentiment yesterday made a push higher following more strong US data. ISM non-manufacturing was stronger than expected and pointed to continued robust growth in the service sector in February. As the service sector and consumption are closely linked, this was very positive news as it dampens fears of a short-term slowdown following the tax hikes and higher gasoline prices. The ISM report also pointed to strong employment in the service sector which suggests the non-farm payrolls report on Friday could be strong as well.
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Danske Bank