October Chicago PMI comes in better than expected at 43.8

Breakdown

• Chicago's October PMI was reported at 43.8, higher than expected. 14s
• This is the highest PMI reading since July and an improvement over last month's 40.6. 25s
• The index remains in contraction territory for the 23rd consecutive month, staying below 50. 35s
• The last expansionary reading above 50 was in November 2023. 41s
• Yields on 10-year and 2-year U.S. Treasuries are higher than before the September rate cut. 59s