April 11, 2024 Headlines
After selling off nearly 20 bps following yesterday’s hotter than expected CPI print, Treasury yields have rallied 2 to 5 bps. The catalyst for the rally was a lower than expected PPI print. March PPI rose 0.2% m/m vs a median forecast of 0.3%. Core PPI, which excludes food and energy costs, rose 0.2%, right in line with expectations. Initial jobless claims came in lower than expected at 211,000 last week, the forecast called for a reading of 215,000. Continuing claims rose by 28,000 to 1.817mm.
Hafizan Hamzah
Senior Director, Investment Management Group
Date | Event | Surv(M) | Actual | Prior | Revised |
04/11/24 | PPI Final Demand MoM | 0.30% | 0.20% | 0.60% | — |
04/11/24 | PPI Ex Food and Energy MoM | 0.20% | 0.20% | 0.30% | — |
04/11/24 | PPI Ex Food, Energy, Trade MoM | 0.20% | 0.20% | 0.40% | 0.30% |
04/11/24 | PPI Final Demand YoY | 2.20% | 2.10% | 1.60% | — |
04/11/24 | PPI Ex Food and Energy YoY | 2.30% | 2.40% | 2.00% | 2.10% |
04/11/24 | PPI Ex Food, Energy, Trade YoY | — | 2.80% | 2.80% | 2.70% |
04/11/24 | Initial Jobless Claims | 215k | 211k | 221k | 222k |
04/11/24 | Continuing Claims | 1800k | 1817k | 1791k | 1789k |
04/12/24 | Import Price Index MoM | 0.30% | — | 0.30% | — |
04/12/24 | Import Price Index ex Petroleum MoM | 0.10% | — | 0.20% | — |
04/12/24 | Import Price Index YoY | 0.30% | — | -0.80% | — |
04/12/24 | Export Price Index MoM | 0.30% | — | 0.80% | — |
04/12/24 | Export Price Index YoY | -1.20% | — | -1.80% | — |
04/12/24 | U. of Mich. Sentiment | 79 | — | 79.4 | — |
04/12/24 | U. of Mich. Current Conditions | 81.3 | — | 82.5 | — |
04/12/24 | U. of Mich. Expectations | 78 | — | 77.4 | — |
04/12/24 | U. of Mich. 1 Yr Inflation | 2.90% | — | 2.90% | — |
04/12/24 | U. of Mich. 5-10 Yr Inflation | 2.80% | — | 2.80% | — |
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