US Empire Fed manufacturing index for April 10.8 versus -18.0 estimate

• Prior was -24.60
• Empire manufacturing index 10.8 versus -18.0 expected
• New orders 25.1 versus -21.7 last month
• Shipments 23.9 versus +13.4 last month
• Prices paid 33.0 versus 41.9 last month
• Employment -8.0 versus -10.1 last month
• prices received 23.7 versus +22.9 last month
• Inventories 8.2 versus -1.9 last month
• Delivery times 0.0 versus -7.6 last month
• Unfilled orders 0.0 versus -6.7 last month

six-month forward

• 6 month business conditions 6.6 versus 2.9 last
• new orders 6.6 versus 613 last month
• shipments 7.6 versus 13.3 last month
• unfilled orders -3.1 versus 5.7 last month
• delivery time -2.1 versus -7.6 last month
• inventory is -5.2 versus -11.4 last month
• prices paid 37.1 versus 31.4 last month
• prices received 29.9 versus 27.6 last month
• employees 13.4 versus -4.1 last month
• average employee work week 5.2 versus 6.7 last month
• capital expenditures 16.5 versus 13.3 last month
• technology spending 10.3 versus 13.3 last month

The data for the Empire manufacturing can swing around. Last month the number came in at -24.6 will versus expectations of -8.0.

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Looking at Fed policy expectations:

• 86% probability of a 25 basis point Basis point A basis point is a unit of measurement used to express the change in value of a financial instrument, such as a bond or a loan. One basis point is equal to 0.01%, or one one-hundredth of a percentage point. For example, if the interest rate on a bond increases from 5% to 5.25%, that is an increase of 25 basis points. It is often used in the context of interest rates, yield, and credit spreads. The short-hand for a basis point is bps and on a trading floor you will hear them referred to as ' A basis point is a unit of measurement used to express the change in value of a financial instrument, such as a bond or a loan. One basis point is equal to 0.01%, or one one-hundredth of a percentage point. For example, if the interest rate on a bond increases from 5% to 5.25%, that is an increase of 25 basis points. It is often used in the context of interest rates, yield, and credit spreads. The short-hand for a basis point is bps and on a trading floor you will hear them referred to as ' Read this Term hike in May
• Around 28 basis points of cuts through the end of this year

US yields are moving higher with the two year now up 6.8 basis points of 4.171%. The 10 year yield Yield A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as Read this Term is trading at 4.2 basis points at 3.564%.

S&P index is trading near unchanged on the day. The Dow industrial average is trading up 19.53 points. And the NASDAQ index is trading down -10 points