Treasury prices are lower and the curve steeper after the Eurozone PMI stabilized from its two-month decline, printing 55.2 vs 54.9 expected. The ten-year treasury yield is hovering close to 3% as signs of trade tension ease which is expected to put upward pressure on commodity prices, forcing inflation expectations higher. S&P futures are up 6 points on the back of this news as well. Notable economic data releases today include the Markit flash PMIs for April and existing home sales. However, the market will focus most of its attention on the Q1 GDP estimate this Friday (current consensus of 2%).
Eric Kruglak
Senior Associate, Investment Management Group
| Date Time | Event | Survey | Actual | Prior |
| 04/23/2018 | Chicago Fed Nat Activity Index | 0.28 | 0.1 | 0.88 |
| 04/23/2018 | Markit US Manufacturing PMI | 55.2 | — | 55.6 |
| 04/23/2018 | Markit US Services PMI | 54.1 | — | 54 |
| 04/23/2018 | Markit US Composite PMI | — | — | 54.2 |
| 04/23/2018 | Existing Home Sales | 5.55m | — | 5.54m |
| 04/23/2018 | Existing Home Sales MoM | 0.20% | — | 3.00% |
| 04/24/2018 | FHFA House Price Index MoM | 0.60% | — | 0.80% |
| 04/24/2018 | S&P CoreLogic CS 20-City NSA Index | — | — | 205.1 |
| 04/24/2018 | S&P CoreLogic CS 20-City MoM SA | 0.68% | — | 0.75% |
| 04/24/2018 | S&P CoreLogic CS 20-City YoY NSA | 6.35% | — | 6.40% |
| 04/24/2018 | S&P CoreLogic CS US HPI NSA Index | — | — | 196.31 |
| 04/24/2018 | S&P CoreLogic CS US HPI YoY NSA | — | — | 6.18% |
| 04/24/2018 | New Home Sales | 630k | — | 618k |
| 04/24/2018 | New Home Sales MoM | 1.90% | — | -0.60% |
| 04/24/2018 | Richmond Fed Manufact. Index | 16 | — | 15 |
| 04/24/2018 | Conf. Board Consumer Confidence | 126 | — | 127.7 |
| 04/24/2018 | Conf. Board Present Situation | — | — | 159.9 |
| 04/24/2018 | Conf. Board Expectations | — | — | 106.2 |
| 04/25/2018 | MBA Mortgage Applications | — | — | 4.90% |
| 04/26/2018 | Initial Jobless Claims | 230k | — | 232k |
| 04/26/2018 | Continuing Claims | 1850k | — | 1863k |
| 04/26/2018 | Advance Goods Trade Balance | -$75.0b | — | -$75.4b |
| 04/26/2018 | Retail Inventories MoM | — | — | 0.40% |
| 04/26/2018 | Wholesale Inventories MoM | 0.60% | — | 1.00% |
| 04/26/2018 | Durable Goods Orders | 1.50% | — | 3.00% |
| 04/26/2018 | Durables Ex Transportation | 0.40% | — | 1.00% |
| 04/26/2018 | Cap Goods Orders Nondef Ex Air | 0.50% | — | 1.40% |
| 04/26/2018 | Cap Goods Ship Nondef Ex Air | 0.30% | — | 1.40% |
| 04/26/2018 | Bloomberg Consumer Comfort | — | — | 58.1 |
| 04/26/2018 | Kansas City Fed Manf. Activity | 17 | — | 17 |
| 04/27/2018 | Employment Cost Index | 0.70% | — | 0.60% |
| 04/27/2018 | GDP Annualized QoQ | 2.00% | — | 2.90% |
| 04/27/2018 | Personal Consumption | 1.20% | — | 4.00% |
| 04/27/2018 | GDP Price Index | 2.20% | — | 2.30% |
| 04/27/2018 | Core PCE QoQ | 2.50% | — | 1.90% |
| 04/27/2018 | U. of Mich. Sentiment | 98 | — | 97.8 |
| 04/27/2018 | U. of Mich. Current Conditions | 106.2 | — | 115 |
| 04/27/2018 | U. of Mich. Expectations | — | — | 86.8 |
| 04/27/2018 | U. of Mich. 1 Yr Inflation | — | — | 2.70% |
| 04/27/2018 | U. of Mich. 5-10 Yr Inflation | — | — | 2.40% |
| 04/30/2018 | PCE Core YoY | 2.00% | — | 1.60% |
| 04/30/2018 | Personal Income | 0.40% | — | 0.40% |
| 04/30/2018 | Personal Spending | 0.40% | — | 0.20% |
| 04/30/2018 | Real Personal Spending | — | — | 0.00% |
| 04/30/2018 | PCE Deflator MoM | 0.10% | — | 0.20% |
| 04/30/2018 | PCE Deflator YoY | — | — | 1.80% |
| 04/30/2018 | PCE Core MoM | 0.20% | — | 0.20% |
| 04/30/2018 | Chicago Purchasing Manager | 58 | — | 57.4 |
| 04/30/2018 | Pending Home Sales MoM | 0.50% | — | 3.10% |
| 04/30/2018 | Pending Home Sales NSA YoY | — | — | -4.40% |
| 04/30/2018 | Dallas Fed Manf. Activity | 25 | — | 21.4 |