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Treasury yields up as ISM hits highest in more than two years

  • At 56.4, it's the highest level for the index since April 2011. Both New Orders and Production were little-changed at 60.6 and 60.8, respectively. Employment -2.2 to 53.2. Supplier Deliveries +2.1 to 54.7. Backlogs +2.0 to 51.5. Exports +5.0 to 57.0.
  • It's the fifth consecutive gain for the ISM, after hitting a year-low of 49.0 in May.
  • Treasurys (TLT -0.9%) extend their losses with the 10-year yield all the way back to 2.61% after dropping to 2.48% earlier this week. TBT +1.4%.
  • ETFs: TBT, TLT, TMV, TBF, EDV, TTT, TMF, ZROZ, TLH, SBND, DLBS, VGLT, UBT, TLO, FSA, LBND, TENZ, TYBS, DLBL.
  • Full ISM report.
Comments (7)
  • al roman
    , contributor
    Comments (5482) | Send Message
     
    Adjusting the balance.
    1 Nov 2013, 11:14 AM Reply Like
  • Sir. Monaco
    , contributor
    Comments (367) | Send Message
     
    I'm giddy at this reaction,

     

    what people fail to realize is that ISM is a direct result of the Fed's bond buying policy, so what do you think they will do more of?

     

    ANSWER: they will buy more treasuries to get more of these results,.

     

    the last thing they would do is pull back and have ISM fall off a cliff,
    1 Nov 2013, 11:55 AM Reply Like
  • American in Paris
    , contributor
    Comments (5504) | Send Message
     
    I disagree. The impact of QE appears to be quite limited since most of the funds created to buy Treasuries remains on the Federal Reserve deposits of the commercial banks.

     

    This talk about "it is all due to the Fed" is just right wing ideology masquerading as economic analysis.
    1 Nov 2013, 12:54 PM Reply Like
  • American in Paris
    , contributor
    Comments (5504) | Send Message
     
    You want to claim it is all due to the Fed? Show us the statistical evidence. I don't think you can and I was trained as an economist and statistician.
    1 Nov 2013, 12:59 PM Reply Like
  • Sir. Monaco
    , contributor
    Comments (367) | Send Message
     
    wow! jumping to crazy political talk really shows your true stripes and how you are objective and nonbiased

     

    I will not tolerate or entertain political discussions here on a financial page,
    1 Nov 2013, 01:43 PM Reply Like
  • Sir. Monaco
    , contributor
    Comments (367) | Send Message
     
    actually you show me the statistical evidence it wasn't all due to the Fed.

     

    and buddy, I'm the guy who hired you to be that supposedly "well trained .....economist and statistician"

     

    and later fired you for being terrible at your job,
    1 Nov 2013, 01:46 PM Reply Like
  • Hendershott
    , contributor
    Comments (1538) | Send Message
     
    What's driving the US economy isn't QE, it's the shale revolution. We are now the largest exporter of hydrocarbon liquids in the world. Directly produces businesses, jobs and money coming into our economy.
    2 Nov 2013, 04:59 PM Reply Like
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