Prior month 51.2
- ISM manufactured for August 49.1 versus 51.2
- prices paid 46.0 versus 45.1 in July
- new orders 47.2 versus 50.8 in July
- employment 47.4 versus 51.7 in July
- backlog of orders 46.3 versus 43.1 last month
- supplier deliveries 51.4 versus 53.3 last month
- inventories 49.9 versus 49.5 last month
- customer inventories 44.9 versus 45.7 last month
- new export orders 43.3 versus 48.1 last month
- imports 46.0 versus 47.0 last month
- PMI and lowest since January 2016, below 50 for the 1st time since August 2016
- employment index at lowest since March 2016
- new orders at lowest since June 2012
The USD has moved lower on the weaker data. The EURUSD is now above the 1.0962 level. Trades at 109.69. The USDJPY has moved to 105.79 from 106.22.
The US 10 year treasury yield is down 5 basis points to 1.445%. The 2 year yield is down 6.4 basis points to 1.44%
The chance for a 50 basis point cut has increased to 20% from around 4% early in the day.