- The overall PMI of 51.5 was flat in April from the previous month (and remains at the lowest in more than a year), but New Orders at 53.5 vs. 51.8 and Production at 56.0 vs. 53.8 both rose. Expectations for the overall gauge were 52.0.
- Supplier Deliveries 50.1 vs. 50.5, Backlogs 49.5 flat, Prices 40.5 vs. 39.0, Employment 48.3 vs. 50.0.
- Full report
- As has been the case for the past couple of weeks, Treasury yields want to go higher, no matter the news. The 10-year is now up six basis points to 2.09%. TLT -1.2%, TBT +2.4%
- ETFs: TBT, TLT, TMV, IEF, TBF, EDV, TMF, PST, TTT, ZROZ, TLH, SBND, VGLT, IEI, TYO, UBT, DLBS, DTYS, UST, TLO, VGIT, TBX, SCHR, TENZ, GSY, TYD, LBND, DTYL, ITE, DLBL, TYBS, DFVL, FIVZ, TBZ, DFVS, TYNS, SYTL