The relationship between yields and prices is inversed, meaning they move in opposite directions. One basis point is equivalent to 0.01%. A list of Treasury security yields with corresponding percentage point changes has been provided.
In April, there was an unexpected increase in demand for durable goods, as data from the Commerce Department revealed on Friday. Orders for items like appliances, cars, and airplanes rose by 0.7% for the month, slightly lower than March’s 0.8% increase but still above the consensus estimate of a 1% decline. Excluding transportation items, orders showed growth of 0.4%, while orders were flat when defense was excluded.
Both services and manufacturing sectors experienced expansion in May according to the purchasing managers’ index from S&P Global released on Thursday. This indicates growth in both sectors.
