ISM services preview and incoming data lift Treasury yields

Tuesday, December 02, 2025 at 16:30 UTC+01:00 (+0100), United States, N/A

News category : Macroeconomic Events

Market briefings on December 2 noted that incoming US data, including an ISM services preview and other activity indicators, contributed to a rise in Treasury yields across the curve. Traders interpreted the flow of data as evidence that inflationary pressures and economic resilience remain sufficiently persistent to complicate the case for an imminent Federal Reserve rate cut. The repricing led to wider volatility in rate-sensitive sectors and prompted short term repositioning in fixed income and currency markets. Strategists emphasised the importance of the upcoming formal ISM services release and employment reports in determining whether the yield move endures.

Overall market impact

Mild bearish market impact - strength score : 72/100

Detailed breakdown of market impact over instruments, sectors, and asset classes

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Impacted instruments :

US Treasury yields

Interest-rate futures

USD FX pairs

Bank equities

Fixed income ETFs

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