April 24, 2023 Headlines

Treasury yields are 3 to 4 bps lower this morning and equities are mixed, with S&P futures up 0.08% while the Dow is down 0.06%. Blackrock began liquidating SVB’s and SBNY’s portfolios last week on behalf of the FDIC. The bid lists were generally orderly and well bid, but the lists were fairly small and easily absorbed; activity starts to pick up this week as lists will be traded Tuesday through Thursday of this week. The economic calendar is light today but will pick up towards the back end with initial jobless claims and GDP out on Thursday.

Hafizan Hamzah
Senior Director, Investment Management Group

04/24/23Chicago Fed Nat Activity Index-0.19-0.19
04/24/23Revisions: Retail Sales, Inventories
04/24/23Dallas Fed Manf. Activity-15.7
04/25/23Philadelphia Fed Non-Manufacturing Activity-12.8
04/25/23FHFA House Price Index MoM0.20%
04/25/23S&P CoreLogic CS 20-City MoM SA-0.43%
04/25/23S&P CoreLogic CS 20-City YoY NSA2.55%
04/25/23S&P CoreLogic CS US HPI YoY NSA3.79%
04/25/23New Home Sales640k
04/25/23New Home Sales MoM1.10%
04/25/23Conf. Board Consumer Confidence104.2
04/25/23Conf. Board Present Situation151.1
04/25/23Conf. Board Expectations73
04/25/23Richmond Fed Manufact. Index-5
04/25/23Richmond Fed Business Conditions-17
04/25/23Dallas Fed Services Activity-18
04/26/23MBA Mortgage Applications-8.80%
04/26/23Wholesale Inventories MoM0.10%
04/26/23Advance Goods Trade Balance-$91.6b
04/26/23Retail Inventories MoM0.80%
04/26/23Durable Goods Orders-1.00%
04/26/23Durables Ex Transportation-0.10%
04/26/23Cap Goods Orders Nondef Ex Air-0.10%
04/26/23Cap Goods Ship Nondef Ex Air-0.10%
04/27/23Initial Jobless Claims245k
04/27/23Continuing Claims1865k
04/27/23GDP Annualized QoQ2.60%
04/27/23Personal Consumption1.00%
04/27/23GDP Price Index3.90%
04/27/23Core PCE QoQ4.40%
04/27/23Pending Home Sales MoM0.80%
04/27/23Pending Home Sales NSA YoY-21.10%
04/27/23Kansas City Fed Manf. Activity0
04/28/23Employment Cost Index1.00%
04/28/23Personal Income0.30%
04/28/23Personal Spending0.20%
04/28/23Real Personal Spending-0.10%
04/28/23PCE Deflator MoM0.30%
04/28/23PCE Deflator YoY5.00%
04/28/23PCE Core Deflator MoM0.30%
04/28/23PCE Core Deflator YoY4.60%
04/28/23MNI Chicago PMI43.8
04/28/23U. of Mich. Sentiment63.5
04/28/23U. of Mich. Current Conditions68.6
04/28/23U. of Mich. Expectations60.3
04/28/23U. of Mich. 1 Yr Inflation4.60%
04/28/23U. of Mich. 5-10 Yr Inflation2.90%
04/28/23Kansas City Fed Services Activity-4

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