ISM Service Index
November’s non-manufacturing index from the Institute for Supply Management (ISM) will be posted late tomorrow morning. This is the sister release to last week’s manufacturing index, tracking executive sentiment about business conditions in the services sector instead of manufacturing. It is expected to show a reading of 52.4, up from October’s 51.8, signaling more surveyed executives felt business improved in the sector than did in October. As a sign of economic strength, an increase would be bad news for bonds and mortgage rates. Good news would be a much lower reading that would allow bond prices to rise and mortgage rates to move lower.