U.S. Interest Rate Markets

Dec 10-year T-notes this morning are down -6 ticks at a 1-week low. Thursday's closes: TYZ8 +4.50, FVZ8 +3.25. Dec 10-year T-notes on Thursday closed higher on the weaker-than-expected U.S. Sep ISM manufacturing index that fell to a 6-month low, which was dovish for Fed policy. T-note prices were also supported by the slump in crude oil prices to a 6-1/2 month low, which undercuts inflation expectations.