- S&P Global published PMI data indicating expansion in the manufacturing sector.
- The Federal Reserve relies on S&P Global for manufacturing sector data.
S&P Global Reports Strong US Business Activity, Driving Bond Yields Higher
- Reports
- 3
- Developments
- 1
- Repetition
- 67%
New informationRepeats or wire copies
What happened
S&P Global reported that US business activity accelerated at the fastest rate since July 2021. This news caused US bond yields to surge, with the 10-year Treasury yield reaching 5.12% and the 30-year yield hitting 5.41%. Additionally, input costs increased due to a rise in energy prices.
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Why it matters
The strong business activity and rising input costs fueled concerns about inflation. This increased expectations that the Federal Reserve might continue raising interest rates to control inflation, with the odds of a hike in October rising to 71%.
The Federal Reserve relies on S&P Global for manufacturing sector data.
From westfaironline.com
Who's involved
- S&P GlobalPublished the report showing accelerated US business activity
- FEDIs influenced by economic activity and inflation concerns
- BrentIts price movements are contributing to rising input costs
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
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The entities involved
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S&P Global
American publicly traded corporation, formerly McGraw Hill Financial, Inc
Nothing else this week.
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FED
business
- Brent
Related events
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- Rising oil prices and market volatility are negatively impacting corporate profits.
- Renewed fighting in the Middle East, coupled with new tariffs and a Fed announcement, influenced global oil prices and stock markets.
- The US economy reported third-quarter GDP growth, boosted by AI investments, while facing energy cost pressures from the Iran war.