Early Update – Recession Fears Recede (Sort Of)

12:32 p.m. ET We had an ugly start to the session, but a nice rebound. While the market didn’t knee-jerk react, this morning’s ISM Services (non-manufacturing) came in much stronger than expected and is helping to allay recent recession fears, however, the bond market isn’t quite confirming that sentiment in equities, The S&P Global US…