Core Viewpoint - The global bond market sell-off has persisted for two consecutive trading days, impacting the stock market and driving gold prices to new highs while strengthening the dollar against most currencies [1] Group 1: Market Trends - The bond market sell-off reflects market concerns regarding fiscal irresponsibility in Europe and the U.S. [1] - The dovish stance of the Federal Reserve may exert additional downward pressure on the dollar and support risk assets [1] Group 2: Economic Indicators - The U.S. ISM Manufacturing Index for August rose from 48.0 in July to 48.7, but remains below the market expectation of 49.0 [1] - Sub-indices show mixed performance: the new orders index indicates improved demand, the prices paid index suggests easing inflation pressures, while the employment index hints at a gradually improving labor market [1]

Core Insights - The article highlights the upcoming release of key economic indicators, including the ISM Manufacturing Index for July, the final consumer sentiment index from the University of Michigan for July, and June construction spending figures [1] Economic Indicators - The ISM Manufacturing Index for July will be published at 22:00 Beijing time, which is a crucial measure of manufacturing activity in the U.S. economy [1] - The final consumer sentiment index from the University of Michigan for July will also be released, providing insights into consumer confidence levels [1] - Additionally, June construction spending data will be disclosed, which is important for understanding trends in the construction sector [1]

Group 1 - The USD/JPY exchange rate experienced a decline of 1.0%, reaching 142.56 after the release of the US ISM Manufacturing Index [1] - The yield on the 10-year US Treasury bond fell short-term from 4.44% to nearly 4.415%, currently reported at 4.43%, with an overall increase of 2.96 basis points for the day [1] - The yield on the 2-year US Treasury bond decreased to approximately 3.905%, currently up by 2.06 basis points at 3.9181% [1]

Core Viewpoint - The ISM Manufacturing Index for May in the United States is reported at 48.5, which is below the expected 49.2 and slightly lower than the previous value of 48.7 [1] Group 1 - The ISM Manufacturing Index indicates a contraction in the manufacturing sector as it remains below the neutral level of 50 [1] - The decline from the previous month's value suggests ongoing challenges within the manufacturing industry [1] - The index's performance is a key indicator for economic health and may influence investment decisions in related sectors [1]

Core Viewpoint - The ISM Manufacturing Index for May will be released at 22:00 Beijing time, which is a key economic indicator for assessing the health of the manufacturing sector in the United States [1] Group 1 - The announcement of the ISM Manufacturing Index is significant as it provides insights into manufacturing activity, which can influence investment decisions and market trends [1]

Core Insights - The U.S. ISM Manufacturing Index for April will be released at 22:00 Beijing time [1] Group 1 - The announcement of the ISM Manufacturing Index is significant for assessing the health of the manufacturing sector in the U.S. [1]