April 7, 2026

The March Services Purchasing Managers' Index stood at 54 points

International

In the United States, the ISM Services Purchasing Managers’ Index for March was released yesterday. The reading came in at 54 points, which is below the 54.9 points expected by the consensus of analysts and below the 56.1 points recorded in the previous month. As a reminder, a reading above 50 points indicates expansion of activity, while a reading below 50 points indicates contraction.

The major U.S. stock indices closed slightly higher yesterday, the first trading day of the week. Both the S&P 500 and the Dow Jones rose by +0.4% each, while the Nasdaq advanced +0.5%. Thus, so far in 2026, the indices have accumulated changes of -3.4%, -2.9%, and -5.4%, respectively.

Meanwhile, the U.S. Treasury yield curve saw little change. The 1-year Treasury note’s yield rose from 3.68% to 3.69%, while the 3-year Treasury note remained unchanged at 3.87%. For the 10-year Treasury note, the yield fell from 4.34% to 4.33%.

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