Yields move sharply lower after weaker ISM services data

Yields have moved sharply lower after the weaker than expected ISM services data. Prices paid lowest since May 2020.

• Two 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 3.687% -14.7 basis points
• 10 year 3.279% -5.4 basis points
• 30 year 3.563% -3.1 basis points

The 10 yield has moved to a new low for the year and trading at the lowest level since September 2022

US stocks are marginally lower from pre-release data so far:

• Dow Industrial Average still up by 60 points or 0.21%
• S&P index is down -9.2 points are -0.23%
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is down -85 points or -0.70%

The markets are pricing in 100 basis point of cuts between now and January 2024. Meanwhile Fed's Mester said last night that the Fed is looking at inflation, demand decline but she still expects to move at rates above 5% and keep them there for a long while. There is a big difference between the Fed and the market.