The ISM Manufacturing Index was unchanged at a four-year high of 84.6, with 13 industries reporting growth and only three in contraction. Treasury yields moved higher this week, with the 2-year up 10 bps to 3.88% and the 10-year up 7 bps to 4.37%. The combination of strong manufacturing data and higher yields points to firmer growth expectations and a more hawkish rates backdrop.
The ISM Manufacturing Index was unchanged at a four-year high of 84.6, with 13 industries reporting growth and only three in contraction. Treasury yields moved higher this week, with the 2-year up 10 bps to 3.88% and the 10-year up 7 bps to 4.37%. The combination of strong manufacturing data and higher yields points to firmer growth expectations and a more hawkish rates backdrop.
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neutral
Sentiment Score
0.05
