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Yields move even higher after strong ISM print

Published 07/03/2017, 10:43 AM
© Reuters.  Yields move even higher after strong ISM print
TBT
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UBT
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DLBS
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TMV
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TLT
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TYBS
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TMF
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TLH
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ZROZ
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TBF
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SPTL
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TTT
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EDV
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VGLT
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DLBLF
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VUSTX
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  • The ISM Manufacturing Index popped up to 57.8 in June - that's from 54.9 in May and vs. expectations for just a modest increase to 55.6. It's also the fastest number in about three years.
  • New Orders rose to 63.5 from 59.5; Production to 62.4 from 57.1; Supplier Deliveries to 57 from 53.1. Prices paid slipped to 55 from 60.5.
  • The 10-year Treasury yield was up three basis points prior to the report, but now is ahead 6.7 bps to 2.338%. TLT -0.55%, TBT +1.1%
  • Looking at short-term rate futures, traders continue to price in about a 75% chance of one more rate hike this year.
  • ETFs: TLT, TBT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, UBT, TLO, DLBS, VUSTX, TYBS, DLBL
  • Now read: Understanding EDV (Part 1) - Introduction To Vanguard's Extended Duration Treasury ETF


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