1.   Bonds slumped after a monthly report from the National Association of Purchasing Management showed that manufacturing is no longer contracting but expanding.

2.   A report earlier this month from the National Association of Purchasing Management also suggested that manufacturing contracted in August.

3.   That seemed to show manufacturing is contracting, suggesting the economy may be expanding slowly enough to let the Federal Reserve cut interest rates.

4.   The National Association of Purchasing Management said that more manufacturers paid higher prices in May and that business inventories fell, even as manufacturing contracted.