S&P global U.S. services PMI comes in at 54.8 vs. 55.2 estimated

Group 1 - The final reading for the service sector PMI in October is 54.8%, which is lower than expectations and the mid-month reading of 55.2% [1] - The composite PMI also decreased to 54.6% from a mid-month reading of 54.8% [1] - Despite being lower than expected, the service sector PMI is sequentially higher than last month, which was 54.2% [2] Group 2 - The current market yields are rising, with the 10-year yield reaching 4.12%, surpassing the previous high of 4.11% [3] - A close at 4.11% or higher would mark a fresh one-month high yield close for the 10-year [3] - Upcoming ISM services PMIs are expected to provide additional insights [3]