After the US ISM manufacturing PMI was announced in September, the increase in US Treasury yields further expanded. The 10-year US Treasury yield recently rose 4.72 basis points to 5.34%; the NASDAQ 100 index erased the gains, the S&P 500 index fell 0.2%, and the Dow fell 0.4%. Although the US ISM manufacturing PMI for September was slightly lower than expected, the price payment index rose sharply from 71.1 to 77.9, far higher than the 72.3 forecast. At the same time, the employment index and the new orders index both rose from previous values, indicating that demand in the manufacturing industry is still resilient and cost pressure is clearly heating up. As a result, the market is re-evaluating the Fed's interest rate prospects brought about by high inflation.

After the US ISM manufacturing PMI was announced in September, the increase in US Treasury yields further expanded. The 10-year US Treasury yield recently rose 4.72 basis points to 5.34%; the NASDAQ 100 index erased the gains, the S&P 500 index fell 0.2%, and the Dow fell 0.4%. Although the US ISM manufacturing PMI for September was slightly lower than expected, the price payment index rose sharply from 71.1 to 77.9, far higher than the 72.3 forecast. At the same time, the employment index and the new orders index both rose from previous values, indicating that demand in the manufacturing industry is still resilient and cost pressure is clearly heating up. As a result, the market is re-evaluating the Fed's interest rate prospects brought about by high inflation.