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TREASURY YIELDS SINK AS WEAK DATA FUEL FED BETS: MARKETS WRAP

 * US factory activity contracts as orders slide, output weakens
 * NYSE fixes issue that spurred erroneous trading halts Monday

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Glitch at NYSE Leads to Some Wild Stock Swings

Source: Bloomberg

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By Rita Nazareth
June 3, 2024 at 12:36 AM GMT+2
Updated on
June 3, 2024 at 10:37 PM GMT+2
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The world’s biggest bond market climbed after a weak manufacturing reading
fueled speculation the Federal Reserve will have room to cut interest rates this
year.

Treasuries rose across the curve after data showed US factory activity shrank at
a faster pace as output came close to stagnating. Stocks struggled to gain much
traction, with the S&P 500 closing with a mere 0.1% gain.

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