U.S. Treasuries continued to decline today on the first trading day of Q2 2017, selling off mostly due to the big positive surprise in the June ISM Manufacturing Report. The headline index and the internals of the report were strong but the ISM report is diverging the most from the manufacturing PMI since 2011. May construction spending missed expectations but April's growth was revised up by a larger amount. The Nasdaq-100 touched a six-week low today, closing at 5,596, but the S&P 500 gained 0.23% to 2,429. The U.S. Dollar Index lost 0.03% to 96.19. The 2-year Treasury yield touched a post-crisis high of 1.42%.