US bond yields bounce as manufacturing PMI recovers

01 April 2019

 

Purchasing managers' indices (PMIs) have been sliding in recent months, albeit from elevated levels.  After reaching a cyclical peak in September 2017, manufacturing PMI readings went sideways for a year before they started a downtrend. The latest reading represents an improvement on the previous month’s figure but this does not necessarily mean the series of lower readings are over. US manufacturing activity accelerated in March, partially recovering February’s fall. According...

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