Soft services data and rate-hike risk
Services PMIs missed with sticky prices, raising rate-hike odds, while Treasury signaled possible future long-end auction changes.
What we know
ISM Services came in at 54.5 vs 54.8 expected with prices paid at 73.0. Final S&P services PMI was 56.1 vs 57.9 flash, and rate-hike odds rose. Treasury dropped "At Least" from coupon guidance. ADP beat at +86k.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.