Story thread · 21 reports / 9 sources

investingLive Americas market news wrap: Strong US services PMI leads to a big breakdown in bonds

investinglive.com · 8hShare

US September S&P Global flash services PMI 58.7 vs 56.0 expected US treasury sells $70 billion of 5 year notes at a high yield of 5.033% Iranian president says Iran is open to diplomacy but will defend its interests in Hormuz Iranian official says reopening the Strait of Hormuz was discussed in U.S. talks Fed's Barr: Further rate hikes are likely needed to ensure timely return to 2% inflation Markets: WTI crude up $1.61 to $89.59 US 10-year yields up 14.5 bps to 5.11% Gold down $71 to $4283 S&P 500 down 0.8% USD leads, AUD lags It was an important day in markets as the 5% dam in US 10-year rates finally made a clear break. The pressured started in Europe and continued in the US but what really tipped it was a very strong S&P Global PMI for the USA. The numbers suggest a quickening economy and rising prices once again. At minimum, it's led to the market pricing in a 65% chance of an October Fed hike but there are fears that the FOMC is behind the curve and that rates will need to go hig

First report: Australia Flash PMI: Manufacturing contracts for first time since March, services growth softens — seekingalpha.com, 1d