Richmond Fed manufacturing index +1 vs +15 expected

Weak reading
– Prior was +20
Details:
– New orders 0 vs 26 prior
– Shipments -2 vs +25 prior
– Order backlog -15 vs +4
– Employment +6 vs +5 prior
– Wages +23 vs +21 prior
Just a terrible report as the early-year optimism is wiped out.