April 20, 2023 Headlines

Softer overseas economic data is helping fuel a modest rally in Treasuries (by current standards) to start the day, with yields down 4-7 basis points across the curve. On the data front, initial jobless claims ticked higher again last week, up 5,000 to 245,000. Claims remain well below long-run averages (390k over 20 years), but it has been a fairly steady rise in recent months since touching a year-to-date low of 194,000 in January. Later this morning, March existing home sales data will be released, and tomorrow morning, S&P will release preliminary April PMI data for the U.S. and Europe. Several Fed leaders are scheduled to speak today, beginning with Governor Christopher Waller at noon.

Jason Haley
Chief Investment Officer

Date	Event	Survey	Actual	Prior	Revised
4/20/2023	Initial Jobless Claims	240k	245k	239k	240k
4/20/2023	Continuing Claims	1825k	1865k	1810k	1804k
4/20/2023	Philadelphia Fed Business Outlook	-19.3	-31.3	-23.2	—
4/20/2023	Existing Home Sales	4.50m	—	4.58m	—
4/20/2023	Existing Home Sales MoM	-1.80%	—	14.50%	—
4/20/2023	Leading Index	-0.70%	—	-0.30%	—
4/21/2023	Bloomberg April United States Economic Survey
4/21/2023	S&P Global US Manufacturing PMI	49	—	49.2	—
4/21/2023	S&P Global US Services PMI	51.5	—	52.6	—
4/21/2023	S&P Global US Composite PMI	51.2	—	52.3	—
4/24/2023	Chicago Fed Nat Activity Index	—	—	-0.19	—
4/24/2023	Revisions: Retail Sales, Inventories
4/24/2023	Dallas Fed Manf. Activity	—	—	-15.7	—
4/25/2023	Philadelphia Fed Non-Manufacturing Activity	—	—	-12.8	—
4/25/2023	FHFA House Price Index MoM	—	—	0.20%	—
4/25/2023	S&P CoreLogic CS 20-City MoM SA	—	—	-0.43%	—
4/25/2023	S&P CoreLogic CS 20-City YoY NSA	—	—	2.55%	—
4/25/2023	S&P CoreLogic CS US HPI YoY NSA	—	—	3.79%	—
4/25/2023	New Home Sales	630k	—	640k	—
4/25/2023	New Home Sales MoM	-1.60%	—	1.10%	—
4/25/2023	Conf. Board Consumer Confidence	104.1	—	104.2	—
4/25/2023	Conf. Board Present Situation	—	—	151.1	—
4/25/2023	Conf. Board Expectations	—	—	73	—
4/25/2023	Richmond Fed Manufact. Index	—	—	-5	—
4/25/2023	Richmond Fed Business Conditions	—	—	-17	—
4/25/2023	Dallas Fed Services Activity	—	—	-18	—
4/26/2023	MBA Mortgage Applications	—	—	-8.80%	—
4/26/2023	Wholesale Inventories MoM	—	—	0.10%	—
4/26/2023	Advance Goods Trade Balance	-$89.5b	—	-$91.6b	—
4/26/2023	Retail Inventories MoM	—	—	0.80%	—
4/26/2023	Durable Goods Orders	0.70%	—	-1.00%	—
4/26/2023	Durables Ex Transportation	-0.30%	—	-0.10%	—
4/26/2023	Cap Goods Orders Nondef Ex Air	0.20%	—	-0.10%	—
4/26/2023	Cap Goods Ship Nondef Ex Air	—	—	-0.10%	—
4/27/2023	Initial Jobless Claims	—	—	245k	—
4/27/2023	Continuing Claims	—	—	1865k	—
4/27/2023	GDP Annualized QoQ	2.00%	—	2.60%	—
4/27/2023	Personal Consumption	—	—	1.00%	—
4/27/2023	GDP Price Index	3.70%	—	3.90%	—
4/27/2023	Core PCE QoQ	—	—	4.40%	—
4/27/2023	Pending Home Sales MoM	1.00%	—	0.80%	—
4/27/2023	Pending Home Sales NSA YoY	—	—	######	—
4/27/2023	Kansas City Fed Manf. Activity	—	—	0	—

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