Economic Indicators - The September US CPI report showed a monthly increase of +0.3% and a yearly increase of +3.0%, which was slightly below market expectations of +0.4% m/m and +3.1% y/y [2] - The core CPI for September also rose by +0.2% m/m and +3.0% y/y, again slightly weaker than the expected +0.3% m/m and +3.1% y/y [2] - The final-August University of Michigan US consumer sentiment index fell by -1.4 points to 53.6, weaker than the expected drop to 54.5 [3] Market Reactions - The dollar index ended the day little changed, influenced by the weaker-than-expected CPI report and a -0.6 basis point decline in the US 10-year T-note yield [1] - The markets are pricing in a 97% chance of a -25 basis point rate cut at the next FOMC meeting on October 28-29 due to the ongoing US government shutdown [4] Eurozone Indicators - The preliminary-October HCOB Eurozone manufacturing PMI rose by +0.2 points to 50.0, exceeding expectations for no change at 49.8 [5] - The preliminary-October HCOB Eurozone services PMI increased by +1.3 points to 52.6, stronger than the anticipated decline to 51.2 [5]

Market Overview - S&P and NASDAQ reached record highs [1] - Services sector is identified as the strongest part of the economy [3] Services PMI Data Analysis - S&P Global's services PMI for September finalized at 542%, an improvement from the initial 539% [1] - Although the final reading is the best since August, it is sequentially lower than the previous month's 545% [2] - The composite PMI also shows a similar trend, with the final reading of 539% surpassing the mid-month read of 536%, but lower than the previous month's 546% [3] - The services sector has been in expansion territory (above 50%) since January 2023 [2] Treasury Market - The 10-year Treasury yield is at 409%, down nine basis points for the week but up one basis point for the day [4] - The 2-year Treasury yield is at 355%, also up one basis point for the day and down nine basis points for the week [4]

Market Performance & Economic Indicators - S&P PMI service sector final reading for August downgraded to 545%, weaker than the originally reported 554% [2] - Composite PMI also downgraded to 546% from 554%, marking the weakest level since June [2] - Initial market reaction to the PMI downgrade involved slight buying, pushing yields down, but this effect leveled off [2] - ADP jobs number came in slightly light, causing a low spike in interest rates [2] - The 10-year Treasury yield is down by 4 basis points to 418% [3] Interest Rate & Bond Market - Weak Jolts data shifted the market from selling pressure (pushing rates up) to covering positions [3] - Market anticipates tomorrow's job report and next week's CPI and PPI reports [3]

Economic Indicators - Services PMI July final improved to 557%, revised from mid-month 552% [2] - Composite figure moved from 546% to 551%, marking the best since December [2] - These service sectors represent the largest part of the economy [2] Market Trends - Market hovering in the low 420s for the third straight session [3] - Ranges are getting compact after Friday's jobs report [3]