On September 23, IHS Markit released data:
<blockquote>
The preliminary composite PMI for the United States in September was 54.4, slightly higher than the expected 54.3, and slightly lower than the previous value of 54.6;
The preliminary manufacturing PMI fell to 47, hitting a 15-month low, with expectations and previous values at 48.6 and 47.9 respectively;
The preliminary services PMI was 55.4, exceeding the expected 55.2, and slightly decreasing from the previous value of 55.7.
</blockquote>
After the data was released, the yield on the two-year U.S. Treasury bond fell to 3.58%, then rebounded and hit a daily high of 3.616%.
Updating

- On September 23, IHS Markit reported a slight slowdown in U.S. business activity expansion in early September, with a worsening outlook and a price index reaching a six-month high.  
- The preliminary composite PMI for September was 54.4, slightly above the expected 54.3, while the manufacturing PMI fell to 47, a 15-month low, and the services PMI was 55.4, exceeding expectations.  
- Following the data release, the two-year U.S. Treasury yield dropped to 3.58% before rebounding to a daily high of 3.616%.

The U.S. September Markit Manufacturing Preliminary Index was 47, hitting a 15-month low, while the Services PMI exceeded expectations