New Orders rose to 64.2 from 63.6, and Production was flat at 62.2. Employment of 56.9 vs. 56.5. Backlogs fell to 51.5 from 54, and Supplier Deliveries rose to 54.7 from 53.2. Prices 53.5 vs. 52.5. Employment 56.9 vs. 56.5.
Sample quotes: "Amazingly enough, we are seeing meaningful increases in our sales in nearly all segments and regions" ... Largest backlog ever. Most orders waiting on customer approvals ... Markets are sound. We typically see a seasonal 4th quarter slowdown. However, this year … not so."
Treasury prices nevertheless add to gains following the report - taking back some of the large losses seen in Tuesday's very thin trade. TLT +0.25%, TBT -0.5%. The 10-year Treasury yield is off 4 bps to 3%.