• Feb. S&P Global PMI comp 50.4 from prior 52.7, services 49.7 vs prior 52.9

• Services component came in below estimates for 53.0; big downside surprise

• US yields softened as data fuels thoughts of slower econ growth

• DE-US spreads tightened a bit and the US$ was sold across the board

• EUR/USD spiked up to 1.0492 but remained lower on the session, down -0.20%

• Hold above many DMAs, rising monthly RSI, monthly bull hammer are bull signs

• Jan. existing home sales, Feb. U of Michigan (final) risks remain
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)