June's Services Purchasing Managers' Index (PMI) data released Wednesday morning fell short of economist expectations. The Institute for Supply Management (ISM) services index registered at 48.8, below the anticipated 52.7. A reading below 50 indicates a contraction in the sector.

Catalysts hosts Madison Mills and Brad Smith break down the details of the report, exploring market reactions in US equities (^DJI, ^IXIC, ^GSPC) and Treasury yields (^TYX, ^TNX, ^FVX), and the print's implications for the broader economy.

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