The services sector keeps chugging along, but the reading came in just below what economists expected, adding nuance to the macro picture for risk assets. The US services economy refused to blink in July. Anything above 50 signals expansion, and the services sector, which accounts for nearly 90% of the US economy, has now been in growth territory for 24 consecutive months. The World Cup was again cited… Overall, the U.S. services economy continues to be resilient.” The two worlds remain largely separate in the eyes of services sector respondents.