Strong U.S. economic data pushes up Treasury yields

Odaily According to the latest data showing increased resilience in the U.S. economy, U.S. Treasury yields have risen. Konstantinos Chrysikos of Kudotrade stated in a report that the ISM Manufacturing PMI released on Monday "delivered a significant upside surprise." He noted that although employment and inventory remain in contraction territory, the rebound in the employment sub-index suggests that the drag from the labor market on the economy may be easing. "Taken together, these data reinforce the narrative that U.S. economic growth remains resilient." According to Tradeweb data, the yield on the 2-year U.S. Treasury note rose by 1.4 basis points to 3.582%; the yield on the 10-year Treasury note rose by 1 basis point to 4.286% (Jin10)