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Selling Spree Continues, But Gently
Selling Spree Continues, But Gently
Bonds were focused on this morning's ISM Services Index with some traders waiting to see more evidence of economic fallout from tariff-related uncertainty. Instead, the index moved slightly higher and was rather uneventful by the time all sub-components were considered. Not enough fuel there for bond bulls, so the bears kept the 3 day selling spree going, ultimately getting 10yr yields back over the 4.34 technical level that got so much play time in March.
Selling Spree Continues
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, May 05 | |||||
| 9:45AM | Apr S&P Global Services PMI | Apr | 50.8 | 51.4 | 54.4 |
| 9:45AM | Apr S&P Global Composite PMI | Apr | 50.6 | 51.2 | 53.5 |
| 10:00AM | Apr ISM N-Mfg PMI | Apr | 51.6 | 50.6 | 50.8 |
| 10:00AM | Apr ISM Biz Activity | Apr | 53.7 | 55.9 | |
| 10:00AM | Apr ISM Services Prices | Apr | 65.1 | 60.9 | |
| 10:00AM | Apr ISM Services Employment | Apr | 49 | 46.2 | |
| 1:00PM | 3-Yr Note Auction (bl) | 58 | |||
| Tuesday, May 06 | |||||
| 8:30AM | Mar Trade Gap (bl) | Mar | $-140.5B | $-137B | $-122.7B |
| 10:10AM | May IBD economic optimism | May | 47.9 | 50.2 | 49.1 |
| 10:30AM | NY Fed Treasury Purchases 0 to 1 yrs (%) | $75 million | |||
| 1:00PM | 10-Year Note Auction | 4.342% | 4.435% | ||
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