US September PMI gauges show manufacturing and services expansion remains strong
Question
US September PMI gauges show manufacturing and services expansion remains strong
Direct answer
Positive for cyclical U.S. equities and negative for duration, because stronger activity can keep the Federal Reserve cautious.
- Original publisher
- Market Ontology
- Evidence through
- 2026-09-25
- Published
- 2026-10-20
- Revision
- 1 · 2026-10-20
Cite as: Market Ontology, “US September PMI gauges show manufacturing and services expansion remains strong”, revision 1, evidence through 2026-09-25. https://marketontology.com/market-events/2026-09-25/us-september-pmi-gauges-show-manufacturing-and-services-expansion-remains-strong-030a49
How this development reaches the affected companies
| Asset | Exposure and channel | Direction | Evidence |
|---|---|---|---|
| SPY | strong activity readings support revenue expectations across the U.S. market | Up1-5d | manufacturing PMI hit 57.0 and services PMI hit 58.7 |
| TLT | firmer growth tends to lift yields and reduce bond prices | Down1-5d | the report described very strong U.S. economic scorecards |
| USDJPY | stronger U.S. growth usually supports the dollar against low-yielding funding currencies | Up1-5d | the PMI data were described as very strong |
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What happened next
| Asset | Call | Base close | +1 day | +5 days | +20 days |
|---|---|---|---|---|---|
| SPY | Updisagreed | 771.35 2026-09-25 | -0.74% | -0.22% | Pending |
| TLT | Downagreed | 79.32 2026-09-25 | -0.88% | -2.32% | Pending |
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Sources
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