The US manufacturing purchasing manager's index from Markit:

  • Lowest since Oct 2009
  • Prior was 50.8
  • New orders 51.6 vs 52.0 prior
  • Prior employment was 50.2, the lowest since June 2013
  • Prior output was 50.3, the lowest since Oct 2009

Good times if you're a manufacturer. You're fighting a strong dollar, a soft patch of global/domestic growth and the Fed's about to hike rates.

If manufacturers had the clout that Wall Street does, there's no way the Fed would be thinking about raising rates.