Newsig · Forex News
US September S&P Global flash services PMI 58.7 vs 56.0 expected
Prior was 56.8Manufacturing 57.0 vs 53.6 expPrior manufacturing 53.2Composite 58.4 vs 56.0 priorThis is a nice jump and underscores the Fed's rate hike and hawkish stance. These are five-year highs across the board. This article was written by Adam Button at investinglive.com.
Why it matters
SPY (SPDR S&P 500 ETF) · Why linked: The flash PMI prints significantly beat expectations, indicating strong US economic activity that affects broad equity sentiment. Market context: Stronger-than-expected PMI readings may push equities higher on growth optimism but also raise rate-hike concerns.
DXY (US Dollar Index) · Why linked: Hot PMI data reinforces the Fed's hawkish stance, supporting the US dollar. Market context: Hawkish-leaning economic data tends to strengthen the dollar versus major currencies.
TLT (20+ Year Treasury) · Why linked: Strong PMI reducing recession fears and supporting a hawkish Fed is bearish for long-duration Treasuries. Market context: Hot macro data typically pressures long-term Treasury prices as rate expectations rise.
How SPY, TLT usually react
This story is too recent for its own reaction record — we score each asset against the actual price move 24h after publication. These are the long-run figures across every event we have tracked for them.
| Asset | Events | Avg max move | Closed lower |
|---|---|---|---|
| SPY | 11 | +0.73% | 64% |
| TLT | 10 | +0.57% | 60% |
Curated by Newsig — News in. Signal out.
How the reaction data is measured · Editorial policy