- S&P Manufacturing PMI
- 47.9 vs 48.0 f'cast
- ISM Manufacturing PMI
- 47.2 vs 47.5 f'cast
- ISM Prices
- 54.0 vs 52.5 f'cast
The 10am ISM Manufacturing report was today's biggest ticket in terms of econ data. It was a bit of a mixed result with the headline suggesting bond buying and the price component pushing back in the other direction. The headline seems to be getting a bit more attention for now, but the reaction has been anything but swift.
Most of the movement was seen at the outset with "new month" trading bringing in the buyers.
10yr yields are down 7bps at 3.835 and MBS are up roughly a quarter of a point.