Treasurys tumble after fast Chicago PMI report

|By:, SA News Editor

The read of 65.9 is the highest since March 2011, and was far stronger than the 54.5 expected. It was led by double-digit gains in New Orders (highest level in 9 years), Production, and Order Backlogs.

The 10.2 point gain from September's 55.7 print is the largest in over 30 years, and marks just the 3rd time in a decade the index has risen for four consecutive months.

MNI Chief Economist Philip Uglow: "The government might have shut down but Chicago area companies powered ahead in October as orders and production surged."

Up nicely earlier, Treasurys (TLT) are now down a hair for the session. The 10-year yield is one basis point higher at 2.55%.

ETFs: TBT, TLT, TMV, TBF, EDV, TTT, TMF, ZROZ, TLH, SBND, DLBS, VGLT, UBT, TLO, FSA, LBND, TENZ, TYBS, DLBL.