· US service sector PMI shows activity growth slowed to a 6-1/2 year low in August

Good Morning,

Highlights of the week:-

·         US service sector PMI shows activity growth slowed to a 6-1/2 year low in August ·         Oil prices breach US$50/barrel mark as USD weaken and in response to the sharp fall in crude oil inventories ·         Global yields rise sharply following ECB’s decision to leave the policy rate and asset purchase program unchanged ·         Kuroda repeats his boilerplate remarks saying that the central bank is still committed to its 2% inflation target ·         Malaysia govvies see yield declined at the belly of the curve as yield hunting continued on weaker US macro numbers and unchanged ECB policy setting