The ISM services index Tuesday posted a reading of 54.1%, up 2 percentage points from November and above the Dow Jones consensus forecast of 53.4%.
Along with the better overall reading, the prices index jumped to 64.4%, an increase of 6.2 points or more than 10%. It was the first time the index had eclipsed 60% since January of 2024, said Steve Miller, chair of ISM's Business Survey Committee. Treasury yields, particularly at the longer-dated end of the curve, moved higher following the release. The benchmark 10-year note most recently yielded 4.68%, up .065 percentage point, or 6.5 basis points, on the session.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: