November Chicago PMI comes in lower than expected

Group 1 - The Chicago PMI for November shows a reading of 36.3%, indicating a significant decline and marking the lowest level since May 2024 [1] - The manufacturing sector in Chicago has not been above the expansion threshold of 50 for two years, with the last reading above 50 occurring in November 2023 [1] Group 2 - Weak economic indicators are contributing to rising yields, which is causing confusion in the market [2] - The stock market is responding to these economic conditions, suggesting a complex relationship with interest rates [2][3] - Long-term interest rates are challenging to maintain at lower levels, as evidenced by recent settlements around 4% [3]