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Watch Art Cashin: 'Good news, bad news, which news?'

Monday, 2 Dec 2013 | 12:23 PM ET
Cashin says: ISM data spooked bond market
Monday, 2 Dec 2013 | 11:40 AM ET
CNBC's Bob Pisani and Art Cashin, of UBS, discuss the move in the bond market after ISM data was released, and retailers' heavy promotions.

Art Cashin says the stock market is a "little bit edgy" as the yield on the U.S. 10-year note tops 2.8 percent.

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani around midday the stock market should have been encouraged by the fastest growth for the U.S. manufacturing sector in 2-1/2 years.

Instead, that stronger-than-expected ISM number hurt stocks by "spooking" the bond market into thinking the Fed may be getting closer to tapering its asset purchases.

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