Markets in Risk Off Wait and See Mode Following Hot PMI, 10Y Yield back above 5%, as Financials, Currencies and Metals Trade at Lows, Energy at Highs, Amid Stronger Dollar, Rates & Oil

Following this morning’s PMI report, a reading of 58.4, over 2 points higher than the previous reading of 56 and the top of the Econoday consensus ranges for both Manufacturing, 57 versus 54.7 & Services, 58.7 versus 56.5, markets are in a risk off & wait and see mode as...Wooden blocks with the word BONDS spelled out on top of money by Worawith via Adobe Stock