Markets Slide on Fall in Long-Term Yields

The Dow was -0.56%, the S&P 500 was 0.09%, the Nasdaq +0.13% and the small-cap Russell 2000 closed in positive territory. Both PMI Manufacturing and ISM prints showed weakness in the Manufacturing sector overall. Tomorrow’s nonfarm payrolls for the month of November from the U.S. Bureau of Labor Statistics (BLS) expectations are for lower job gains month over month. The bond market routinely pegs coming economic developments better than the day-to-day equities markets do, but it is the bond market, which typically pegs developments better. In any case, this helped pump the brakes on a steamrolling rally through the end of the year; we’ll see tomorrow whether jobs figures . . .