10Y Yield Spikes Above 5.00% After Blowout Beats For US PMIs With ‘hard’ economic data still somewhat muted, expectations were for a modest retracement in US PMIs from recently optimistic levels in preliminary September data. Instead, the ‘soft’ survey data soared: Flash US Services PMI Business Activity Index: 58.7 vs 55.8 exp (August: 56.5). 59-month high. Flash US Manufacturing PMI: 57.0 vs 53.7 exp (August: 53.9). 52-month high. The headline flash S&P Global US PMI Composite Output Index rose from 56.0 in August to 58.4 in September, registering the fastest expansion since July 2021 and an acceleration of growth for… — Continue at ZeroHedge News : Read More
