Treasury yields have turned higher following the release of better-than-expected economic data this morning.
Initial jobless claims were 218,000 last week, 5,000 below expectations and the second straight week below the multi-month trend of 230,000. Separately, the first look at August durable goods orders surprised to the upside, with core capital goods orders up 0.2% (0.1% expected). Congress was able to pass another short-term resolution late yesterday to fund the federal government until late December, avoiding another government shutdown ahead of the November elections. Eight different Fed leaders will be making public appearances today, including pre-recorded remarks from Fed Chair Powell at a US Treasury Market Conference.
Jason Haley
Chief Investment Officer
| Date | Event | Survey | Actual | Prior | Revised |
| 9/26/2024 | BEA annual revisions to GDP/National Economic Accounts | ||||
| 9/26/2024 | GDP Annualized QoQ | 2.90% | 3.00% | 3.00% | — |
| 9/26/2024 | Personal Consumption | 2.90% | 2.80% | 2.90% | — |
| 9/26/2024 | GDP Price Index | 2.50% | 2.50% | 2.50% | — |
| 9/26/2024 | Core PCE Price Index QoQ | 2.80% | 2.80% | 2.80% | — |
| 9/26/2024 | Durable Goods Orders | -2.60% | 0.00% | 9.80% | 9.90% |
| 9/26/2024 | Durables Ex Transportation | 0.10% | 0.50% | -0.20% | -0.10% |
| 9/26/2024 | Cap Goods Orders Nondef Ex Air | 0.10% | 0.20% | -0.10% | -0.20% |
| 9/26/2024 | Cap Goods Ship Nondef Ex Air | 0.10% | 0.10% | -0.30% | -0.40% |
| 9/26/2024 | Initial Jobless Claims | 223k | 218k | 219k | 222k |
| 9/26/2024 | Continuing Claims | 1828k | 1834k | 1829k | 1821k |
| 9/26/2024 | Pending Home Sales MoM | 1.00% | — | -5.50% | — |
| 9/26/2024 | Pending Home Sales NSA YoY | -5.50% | — | -4.60% | — |
| 9/26/2024 | Kansas City Fed Manf. Activity | -5 | — | -3 | — |
| 9/27/2024 | Personal Income | 0.40% | — | 0.30% | — |
| 9/27/2024 | Wholesale Inventories MoM | 0.20% | — | 0.20% | — |
| 9/27/2024 | Personal Spending | 0.30% | — | 0.50% | — |
| 9/27/2024 | Real Personal Spending | 0.10% | — | 0.40% | — |
| 9/27/2024 | PCE Price Index MoM | 0.10% | — | 0.20% | — |
| 9/27/2024 | PCE Price Index YoY | 2.30% | — | 2.50% | — |
| 9/27/2024 | Advance Goods Trade Balance | -$100.3b | — | -$102.7b | -$102.8b |
| 9/27/2024 | Core PCE Price Index MoM | 0.20% | — | 0.20% | — |
| 9/27/2024 | Core PCE Price Index YoY | 2.70% | — | 2.60% | — |
| 9/27/2024 | Retail Inventories MoM | 0.60% | — | 0.80% | — |
| 9/27/2024 | Bloomberg Sept. United States Economic Survey | ||||
| 9/27/2024 | U. of Mich. Sentiment | 69.3 | — | 69 | — |
| 9/27/2024 | U. of Mich. Current Conditions | — | — | 62.9 | — |
| 9/27/2024 | U. of Mich. Expectations | — | — | 73 | — |
| 9/27/2024 | U. of Mich. 1 Yr Inflation | — | — | 2.70% | — |
| 9/27/2024 | U. of Mich. 5-10 Yr Inflation | 3.00% | — | 3.10% | — |
| 9/27/2024 | Kansas City Fed Services Activity | — | — | 5 | — |
| 9/30/2024 | MNI Chicago PMI | 45.2 | — | 46.1 | — |
| 9/30/2024 | Dallas Fed Manf. Activity | — | — | -9.7 | — |
| 10/1/2024 | S&P Global US Manufacturing PMI | — | — | 47 | — |
| 10/1/2024 | Construction Spending MoM | — | — | -0.30% | — |
| 10/1/2024 | JOLTS Job Openings | — | — | 7673k | — |
| 10/1/2024 | ISM Manufacturing | 47 | — | 47.2 | — |
| 10/1/2024 | ISM Prices Paid | — | — | 54 | — |
| 10/1/2024 | ISM New Orders | — | — | 44.6 | — |
| 10/1/2024 | ISM Employment | — | — | 46 | — |
| 10/1/2024 | Dallas Fed Services Activity | — | — | -7.7 | — |
| 10/1/2024 | Wards Total Vehicle Sales | — | — | 15.13m | — |
| 10/2/2024 | MBA Mortgage Applications | — | — | 11.00% | — |
| 10/2/2024 | ADP Employment Change | 125k | — | 99k | — |
| 10/3/2024 | Challenger Job Cuts YoY | — | — | 1.00% | — |
| 10/3/2024 | Initial Jobless Claims | — | — | 218k | — |
| 10/3/2024 | Continuing Claims | — | — | 1834k | — |
| 10/3/2024 | S&P Global US Services PMI | — | — | 55.4 | — |
| 10/3/2024 | S&P Global US Composite PMI | — | — | 54.4 | — |
| 10/3/2024 | Factory Orders | — | — | 5.00% | — |
| 10/3/2024 | Factory Orders Ex Trans | — | — | 0.40% | — |
| 10/3/2024 | Durable Goods Orders | — | — | 0.00% | — |
| 10/3/2024 | Durables Ex Transportation | — | — | 0.50% | — |
| 10/3/2024 | Cap Goods Orders Nondef Ex Air | — | — | 0.20% | — |
| 10/3/2024 | Cap Goods Ship Nondef Ex Air | — | — | 0.10% | — |
| 10/3/2024 | ISM Services Index | 51.5 | — | 51.5 | — |
| 10/3/2024 | ISM Services Prices Paid | — | — | 57.3 | — |
| 10/3/2024 | ISM Services Employment | — | — | 50.2 | — |
| 10/3/2024 | ISM Services New Orders | — | — | 53 | — |