Morning activity is very similar to yesterday, with a slightly better tone in risk markets contributing to modest gains in global equities and higher Treasury yields. Chinese economic data released overnight was better than expected, which is the primary catalyst for today’s tone, but the response has been limited given on concerns that it may strengthen China’s position in the final stages of trade negotiations with the U.S. Multiple Fed leaders will be speaking today, including St. Louis Fed President James Bullard (known to be a little less reserved in his public comments).
Jason HaleyManaging Director, Investment Management Group
| Date | Event | Surv(M) | Actual | Prior | Revised |
| 04/15/19 | Empire Manufacturing | 8 | 10.1 | 3.7 | — |
| 04/15/19 | Net Long-term TIC Flows | — | $51.9b | -$7.2b | — |
| 04/15/19 | Total Net TIC Flows | — | -$21.6b | -$143.7b | — |
| 04/16/19 | Industrial Production MoM | 0.20% | -0.10% | 0.10% | 0.10% |
| 04/16/19 | Manufacturing (SIC) Production | 0.10% | 0.00% | -0.40% | -0.30% |
| 04/16/19 | Capacity Utilization | 79.20% | 78.80% | 78.20% | 79.00% |
| 04/16/19 | NAHB Housing Market Index | 63 | 63 | 62 | — |
| 04/17/19 | MBA Mortgage Applications | — | -3.50% | -5.60% | — |
| 04/17/19 | Trade Balance | -$53.4b | -$49.4b | -$51.1b | — |
| 04/17/19 | Wholesale Inventories MoM | 0.30% | — | 1.20% | — |
| 04/17/19 | Wholesale Trade Sales MoM | 0.30% | — | 0.50% | — |
| 04/17/19 | U.S. Federal Reserve Releases Beige Book | ||||
| 04/18/19 | Retail Sales Advance MoM | 1.00% | — | -0.20% | — |
| 04/18/19 | Retail Sales Ex Auto MoM | 0.70% | — | -0.40% | — |
| 04/18/19 | Retail Sales Ex Auto and Gas | 0.40% | — | -0.60% | — |
| 04/18/19 | Retail Sales Control Group | 0.40% | — | -0.20% | — |
| 04/18/19 | Philadelphia Fed Business Outlook | 11 | — | 13.7 | — |
| 04/18/19 | Initial Jobless Claims | 205k | — | 196k | — |
| 04/18/19 | Continuing Claims | 1722k | — | 1713k | — |
| 04/18/19 | Bloomberg Consumer Comfort | — | — | 59.8 | — |
| 04/18/19 | Bloomberg Economic Expectations | — | — | 47.5 | — |
| 04/18/19 | Markit US Manufacturing PMI | 52.8 | — | 52.4 | — |
| 04/18/19 | Markit US Services PMI | 55 | — | 55.3 | — |
| 04/18/19 | Markit US Composite PMI | — | — | 54.6 | — |
| 04/18/19 | Leading Index | 0.40% | — | 0.20% | — |
| 04/18/19 | Business Inventories | 0.30% | — | 0.80% | — |
| 04/19/19 | Housing Starts | 1230k | — | 1162k | — |
| 04/19/19 | Housing Starts MoM | 5.90% | — | -8.70% | — |
| 04/19/19 | Building Permits | 1300k | — | 1296k | 1291k |
| 04/19/19 | Building Permits MoM | 0.70% | — | -1.60% | -2.00% |