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Published on Tuesday, October 1, 2019

Market Comment | Cautiousness returns amid weak manufacturing data

A weak 10Y Japanese bond auction prompted declines in sovereign debt worldwide, but disappointing manufacturing data trimmed early losses.

Key points

  • Key points:
  • ISM manufacturing unexpectedly fell deeper into contraction in September to a 10-year low.
  • UST bond yields dropped significantly, especially in shorter tenors.
  • U.S. and European stock markets dropped.
  • The DXY index halted its upward trend, while other safe-haven currencies gained.

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