- ISM Services
- 51.6 vs 50.6 f'cast, 50.8 prev
- ISM Prices
- 65.1 vs 60.9 prev
- ISM Employment
- 49.0 vs 46.2 prev
Whether it's the higher headline or the higher price component, ISM is not good for bonds this morning. It is close enough to forecasts as to not cause too huge of a sell-off, but MB are down a quick eighth of a point from pre-data levels. 10yr yields are now up almost 4bps at 4.347.
Lenders who were out with rates before the data could consider negative reprices.
