The yield on the benchmark 10-year Treasury fell on Friday as markets adjusted to the Federal Reserve’s interest rate hike and attention turned toward flash PMI (Purchasing Managers’ Index) data for September that is due to be released later in the day. … The policy-sensitive 2-year Treasury continued to hover around 4.1% after having risen off the back of the Federal Reserve’s interest rate hike. On Thursday, it had soared as high as 4.163% — a level not seen since October 2007… September flash PMI data is set to be released on Friday, giving markets preliminary insight into the economic state of the manufacturing and services industries for the month. PMI data is used as a key indicator for inflation and recession concerns as it reflects whether industries are growing or shrinking, as well as supply and demand.
Source: CNBC
