Early Update – Price Consolidations Starting?

11:35 a.m. ET Since the A.M. Update, Treasury yields have moved sharply lower in the wake of economic data. The March ISM Manufacturing Index decreased to 46.3% (consensus 47.5%) from 47.7% in February. That is the lowest reading since May 2020. The dividing line between expansion and contraction is 50.0%, so the sub-50.0% reading for…