Bond Market Update
Updated: 06-Jul-26 10:15 ET
ISM Services Decelerates in June
Data Recon
- The ISM Services PMI decreased to 54.0% in June (Briefing.com consensus: 54.2%) from 54.5% in May. The dividing line between expansion and contraction is 50.0%, so the June reading reflects services sector activity growing just a tad slower than the prior month.
- The key takeaway from the report is that activity in the services sector is still running at a good pace despite ongoing price pressures. The June reading was 0.9 percentage points above the 12-month average of 53.1%.
- Yield Check:
- 2-yr: -2 bps to 4.12%
- 3-yr: -2 bps to 4.15%
- 5-yr: -1 bp to 4.22%
- 10-yr: UNCH at 4.48%
- 30-yr: +1 bp to 5.00%
