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Greenback Bumped Higher, Treasuries Pulled Back on ISM

DATA REACT

The greenback gets bumped higher by the better-than-expected ISM Services release, while Treasuries pare back support to put the US 10y yield comfortably back above the 4.00% mark.

Highlights from the release:

  • Thirteen industries reported growth in February
  • Business Survey Committee respondents indicated that they are mostly positive about business conditions.
  • Suppliers continue to improve their capacity and logistics, as evidenced by faster deliveries.
  • The employment picture has improved for some industries, despite the tight labor market. Several industries reported continued downsizing.
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