The IHS Markit Manufacturing PMI rose to 50.4 in the preliminary April reading from 49.2. The Services PMI rose to 53.7 in the preliminary April reading from 52.6.
Treasury yields rose sharply after the data release.
The 10-yr note yield, at 3.51% just before the release, sits at 3.56% now.
The 2-yr note yield, at 4.08% a short time ago, sits at 4.17% now.