US FLASH PMI PRINTED AT 58.4, WELL ABOVE EXPECTATIONS. TEN-YEAR YIELDS MOVED FROM 5% TO 5.15% ON THE RELEASE, AND HOURS LATER THE FIVE-YEAR AUCTION WAS A DISASTER. EUROPEAN SERVICES PMIS FROM FRANCE AND GERMANY ALSO CAME IN ABOVE EXPECTATIONS. BONDS ARE REPRICING GLOBALLY TO A STRONGER GROWTH PICTURE. ...