April 1, 2021 Headlines

Treasury yields are lower and flatter to begin the first trading session of Q2, and today will be the last full trading day of the week given the Easter holiday schedule (early close tomorrow at 12pm EDT). President Biden announced a $2.25 trillion infrastructure plan including funding for roads and bridges, expanding broadband internet access, and research and development. This is expected to be the first of two such packages totaling $3-4 trillion. The second package is expected to be announced sometime this morning and focus on child care, healthcare, and education. The plan also includes tax hikes as part of an effort to mitigate the deficit impact, including a proposed increase in the corporate rate from 21% to 28%.

Jason Haley
Chief Investment Officer

Date Event Surv(M) Actual Prior Revised
03/29/21 Dallas Fed Manf. Activity 16.8 28.9 17.2 —
03/30/21 FHFA House Price Index MoM 1.20% 1.00% 1.10% 1.20%
03/30/21 S&P CoreLogic CS 20-City MoM SA 1.20% 1.20% 1.25% 1.30%
03/30/21 S&P CoreLogic CS 20-City YoY NSA 11.20% 11.10% 10.10% 10.17%
03/30/21 S&P CoreLogic CS US HPI YoY NSA 10.50% 11.22% 10.37% 10.41%
03/30/21 Conf. Board Consumer Confidence 96.9 109.7 91.3 90.4
03/30/21 Conf. Board Present Situation — 110 92 89.6
03/30/21 Conf. Board Expectations — 109.6 90.8 90.9
03/31/21 MBA Mortgage Applications — -2.20% -2.50% —
03/31/21 ADP Employment Change 550k 517k 117k 176k
03/31/21 MNI Chicago PMI 61 66.3 59.5 —
03/31/21 Pending Home Sales MoM -3.00% -10.60% -2.80% -2.40%
03/31/21 Pending Home Sales NSA YoY 6.50% -2.70% 8.20% 8.80%
04/01/21 Challenger Job Cuts YoY — -86.20% -39.10% —
04/01/21 Revisions: Initial and Continued Claims
04/01/21 Initial Jobless Claims 675k 719k 684k 658k
04/01/21 Continuing Claims 3750k 3794k 3870k 3840k
04/01/21 Langer Consumer Comfort — — 49.1 —
04/01/21 Markit US Manufacturing PMI 59.1 — 59 —
04/01/21 Construction Spending MoM -1.00% — 1.70% —
04/01/21 ISM Manufacturing 61.5 — 60.8 —
04/01/21 ISM Prices Paid 85 — 86 —
04/01/21 ISM New Orders 67 — 64.8 —
04/01/21 ISM Employment — — 54.4 —
04/01/21 Wards Total Vehicle Sales 16.40m — 15.67m —
04/02/21 Change in Nonfarm Payrolls 650k — 379k —
04/02/21 Two-Month Payroll Net Revision — — 38k —
04/02/21 Change in Private Payrolls 640k — 465k —
04/02/21 Change in Manufact. Payrolls 35k — 21k —
04/02/21 Unemployment Rate 6.00% — 6.20% —
04/02/21 Average Hourly Earnings MoM 0.10% — 0.20% —
04/02/21 Average Hourly Earnings YoY 4.50% — 5.30% —
04/02/21 Average Weekly Hours All Employees 34.7 — 34.6 —
04/02/21 Labor Force Participation Rate 61.50% — 61.40% —
04/02/21 Underemployment Rate — — 11.10% —

Subscribe Today!

Subscribe to our email list and get the latest articles and announcements from ALM First.

Subscribe
ALM First offers investment advisory services through ALM First Financial Advisors, LLC, which is registered with the U.S. Securities and Exchange Commission (“SEC”). SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the firm has attained a particular level of skill or ability. The information contained herein does not constitute investment advice or a recommendation for you to purchase or sell any specific security. You are solely responsible for reviewing the content and for any actions you take or choose not to take based on your review of such content. Information contained herein was derived from third party sources as indicated. While such information is believed to be reliable, no representation or warranty is made concerning the accuracy of any information presented. We have not and will not independently verify this information. Where such sources include opinions and projections, such opinions and projections should be ascribed only to the applicable third party source and not to ALM First. Statements herein that reflect projections or expectations of future financial or economic performance are forward-looking statements. Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct. Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or actual performance. No representation or warranty can be given that the estimates, opinions or assumptions made herein will prove to be accurate. Any projections and forward-looking statements included herein should be considered speculative and are qualified in their entirety by the information and risks disclosed in the confidential offering document. Actual results for any period may or may not approximate such forward-looking statements. No representations or warranties whatsoever are made by ALM First Financial Advisors, LLC or any other person or entity as to the future profitability of investments recommended by ALM First Financial Advisors, LLC.