US Treasury yields bear-flattened during the overnight session in response to headlines concerning Brexit and the US/China trade deal. Yields moved 1bps higher and traded in a tight range after the UK/EU agreed to a six-month Brexit extension which is already being coined “Flextension”. Then, before the New York open, the Wall Street Journal published an article detailing a new proposal from China that sweetened the deal for US cloud-computing companies which extended the move. On the economic calendar for today, investors are awaiting the release of PPI and Initial Jobless Claims.
Chris EckhoffAssociate, Investment Management Group
| Date | Event | Surv(M) | Actual | Prior | Revised |
| 04/08/19 | Factory Orders | -0.50% | -0.50% | 0.10% | 0.00% |
| 04/08/19 | Factory Orders Ex Trans | — | 0.30% | -0.20% | -0.10% |
| 04/08/19 | Durable Goods Orders | -1.60% | -1.60% | -1.60% | — |
| 04/08/19 | Durables Ex Transportation | 0.10% | -0.10% | 0.10% | — |
| 04/08/19 | Cap Goods Orders Nondef Ex Air | — | -0.10% | -0.10% | — |
| 04/08/19 | Cap Goods Ship Nondef Ex Air | — | -0.10% | 0.00% | — |
| 04/09/19 | NFIB Small Business Optimism | 102 | 101.8 | 101.7 | — |
| 04/09/19 | JOLTS Job Openings | 7550 | 7087 | 7581 | 7625 |
| 04/10/19 | MBA Mortgage Applications | — | -5.60% | 18.60% | — |
| 04/10/19 | CPI MoM | 0.40% | 0.40% | 0.20% | — |
| 04/10/19 | CPI Ex Food and Energy MoM | 0.20% | 0.10% | 0.10% | — |
| 04/10/19 | CPI YoY | 1.80% | 1.90% | 1.50% | — |
| 04/10/19 | CPI Ex Food and Energy YoY | 2.10% | 2.00% | 2.10% | — |
| 04/10/19 | CPI Core Index SA | 261.465 | 261.374 | 260.989 | — |
| 04/10/19 | CPI Index NSA | 254.167 | 254.202 | 252.776 | — |
| 04/10/19 | Real Avg Hourly Earning YoY | — | 1.30% | 1.90% | — |
| 04/10/19 | Real Avg Weekly Earnings YoY | — | 1.30% | 1.60% | — |
| 04/10/19 | FOMC Meeting Minutes | — | — | — | — |
| 04/10/19 | Monthly Budget Statement | -$181.0b | -$146.9b | -$208.7b | — |
| 04/11/19 | PPI Final Demand MoM | 0.30% | 0.60% | 0.10% | — |
| 04/11/19 | PPI Ex Food and Energy MoM | 0.20% | 0.30% | 0.10% | — |
| 04/11/19 | PPI Ex Food, Energy, Trade MoM | 0.20% | 0.00% | 0.10% | — |
| 04/11/19 | PPI Final Demand YoY | 1.90% | 2.20% | 1.90% | — |
| 04/11/19 | PPI Ex Food and Energy YoY | 2.40% | 2.40% | 2.50% | — |
| 04/11/19 | PPI Ex Food, Energy, Trade YoY | — | 2.00% | 2.30% | — |
| 04/11/19 | Initial Jobless Claims | 210k | 196k | 202k | 204k |
| 04/11/19 | Continuing Claims | 1735k | 1713k | 1717k | 1726k |
| 04/11/19 | SURVEY REPORT: U.S. Economic Forecasts in Apr. 2019 | ||||
| 04/11/19 | Bloomberg Consumer Comfort | — | 59.8 | 58.9 | — |
| 04/12/19 | Import Price Index MoM | 0.40% | — | 0.60% | — |
| 04/12/19 | Import Price Index ex Petroleum MoM | -0.10% | — | 0.10% | — |
| 04/12/19 | Import Price Index YoY | -0.60% | — | -1.30% | — |
| 04/12/19 | Export Price Index MoM | 0.20% | — | 0.60% | — |
| 04/12/19 | Export Price Index YoY | — | — | 0.30% | — |
| 04/12/19 | U. of Mich. Sentiment | 98.1 | — | 98.4 | — |
| 04/12/19 | U. of Mich. Current Conditions | — | — | 113.3 | — |
| 04/12/19 | U. of Mich. Expectations | — | — | 88.8 | — |
| 04/12/19 | U. of Mich. 1 Yr Inflation | — | — | 2.50% | — |
| 04/12/19 | U. of Mich. 5-10 Yr Inflation | — | — | 2.50% | — |