- S&P Services PMI
- 54.3 vs 50.8 f'cast, 51.0 prev
- S&P Manufacturing PMI
- 49.8 vs 51.8 f'cast, 52.7 prev
S&P PMIs come out twice per month with today's being the first and, thus, the bigger potential market mover. Of the two flavors, the Services PMI is a vastly more important market mover.
As such, it's no surprise to see some weakness after Services came out quite a bit higher than expected.
MBS were recovering some overnight losses, but are now back down nearly a quarter point.
10yr yields are up 6.1bps at the highs of the day (4.316).
