Manufacturing shrank in the U.S. and input prices fell. This likely shows falling demand after the holiday supply crisis scenario.
With the Dems talking about further ‘stimulus’, bond yields rose in the U.S. as higher inflation is sure to follow.
It was only a matter of time before yields increased, everyone know that. As they say on Wall Street — “Interest rates are low until they’re not…”
How much money is the Fed printing again?
After an initial selloff, large cap equities recovered to essentially unchanged as U.S. bond yield rose unexpectedly. The NASDAQ was down over 1% on a tech selloff.
ISM Manufacturing Employment Index (Dec) printed at 54.2 vs 53.5 consensus estimate.
ISM Manufacturing New Orders Index (Dec) printed at 60.4 vs 60.7 estimate.
ISM Manufacturing PMI (Dec) printed at 58.7 vs 60 estimate.
ISM Manufacturing Price Paid (Dec) printed at 68.2 vs 79.5 estimate.