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The Marked Chart Wire · Economy and the Fed
Australia Rates
The Reserve Bank of Australia increased its benchmark rate to a level not seen in 18 years. This marks the central bank's fifth hike this year, a move that matched economist expectations.
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Treasury Auctions
The U.S. Treasury sold $177 billion in three- and six-month bills with yields dropping from prior auctions. Demand improved for six-month bills but weakened for three-month issues.
Economic Data
US construction spending dropped 1.9 percent in the latest month, missing the 0.3 percent gain analysts had forecast. The ISM manufacturing prices paid index also came in below expectations at 75.2.
Manufacturing PMI
The Institute for Supply Management manufacturing index rose to 55.5 in October, above the 54.5 forecast and the prior month reading.
PMI
The final S&P Global US Manufacturing PMI came in at 54.9 for the period, below the forecast of 56 and down from the previous reading of 56.0.
Fed
Federal Reserve Chair Kevin Warsh made remarks that are raising concerns about a more aggressive rate-hiking cycle, according to market observers.
China Economy
The Caixin China purchasing managers index came in at 52.0, above expectations. The official National Bureau of Statistics manufacturing index fell to 49.3.
Fast headlines, summarized. Not verified and not advice. Check the full story before you act.