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Afternoon Note

Itís Fed Day and Treasury Day†

By Charles Payne, CEO & Principal Analyst
11/1/2023 1:02 PM

The market got a little bounce and bond yields eased a bit when Treasury announced its refunding auctions.

November Refunding 

Three Year

10 Year

30 Year

Estimate

$48 billion

$41 billion

$25 billion

Actual 

$48 billion

$40 billion

$24 billion

 
Then, the market got an even bigger boost from the ISM Manufacturing number.

ISM Manufacturing 46.7; consensus 49.0

The Jolts Report was out this morning as well, coming in a fraction higher than expected. The report is losing a lot of influence. 

The breakdown is not that flattering. 

JOLTS

Positives

September

August

Construction

431,000

375,000

Manufacturing 

627,000

604,000

Finance

479,000

410,000

 

JOLTS

Negatives

September

August

Information

160,000

201,000

Healthcare

1,758,000

1,808,000

Leisure

1,414,000

1,233,000

 

Technology is the best performing sector powered by Advanced Micro Devices (AMD) - which reported last night - and gains from NVIDIA (NVDA) and Microsoft (MSFT).

 


 

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