⁍ The Chicago Purchasing Managers Index showed business conditions in the Chicago area improved far more than expected.


⁍ The benchmark 10-year yield was last up 4.1 basis points to 0.686% its highest in a week.


⁍ The long bond yield was up 5.9 basis points to 1.464%, its highest since Sept. 10.


– Treasury prices fell on Wednesday, sending the 10-year yield to its highest level in a week, as investors sought the safety of US government bonds, Reuters reports. The Dow fell more than 200 points, while the Nasdaq and S&P 500 were both down more than 1% in the first half-hour of trading. The sharp drop in prices came after a surprise jump in the Chicago Purchasing Managers Index, which rose to 62.4 in September, the highest since December 2018, from 52.0 in the previous month. “The selloff got going with the data at 8:00am,” said Tom Simons, money market economist at Jefferies. “The Chicago PMI data was released early and it was a blowout number—nearly 10 points above consensus.”



Source: https://www.reuters.com/article/usa-bonds/treasuries-yields-lifted-by-strong-data-stimulus-bill-hopes-idUSL1N2GR12R