April 26, 2022 Headlines

Treasury yields are lower for a second consecutive morning with a continued focus on China’s Covid lockdowns. The curve is modestly steeper with front-end yields 7-8 basis points lower at the moment. Yesterday’s bond rally fizzled somewhat as the day progressed and stocks recovered, but Treasury yields still ended the day 4-8 basis points lower in the 2yr-10yr part of the curve. There are several economic releases this morning, including March durable goods orders and the February home price index. There will also be new supply of 2-year Treasury notes with today’s $48 billion auction at 1pm EDT.

Jason Haley
Chief Investment Officer

4/26/2022Durable Goods Orders1.00%0.80%-2.10%-1.70%
4/26/2022Durables Ex Transportation0.60%1.10%-0.60%-0.50%
4/26/2022Cap Goods Orders Nondef Ex Air0.50%1.00%-0.20%-0.30%
4/26/2022Cap Goods Ship Nondef Ex Air0.50%0.20%0.30%0.20%
4/26/2022FHFA House Price Index MoM1.50%1.60%
4/26/2022S&P CoreLogic CS 20-City MoM SA1.50%1.79%
4/26/2022S&P CoreLogic CS 20-City YoY NSA19.20%19.10%
4/26/2022S&P CoreLogic CS US HPI YoY NSA19.17%
4/26/2022Conf. Board Consumer Confidence108.2107.2
4/26/2022Conf. Board Present Situation153
4/26/2022Conf. Board Expectations76.6
4/26/2022Richmond Fed Manufact. Index913
4/26/2022New Home Sales768k772k
4/26/2022New Home Sales MoM-0.60%-2.00%
4/27/2022MBA Mortgage Applications-5.00%
4/27/2022Advance Goods Trade Balance-$105.0b-$106.6b-$106.3b
4/27/2022Wholesale Inventories MoM1.50%2.50%
4/27/2022Retail Inventories MoM1.40%1.10%
4/27/2022Pending Home Sales MoM-1.00%-4.10%
4/27/2022Pending Home Sales NSA YoY-8.10%-5.40%
4/28/2022GDP Annualized QoQ1.10%6.90%
4/28/2022Personal Consumption3.50%2.50%
4/28/2022GDP Price Index7.20%7.10%
4/28/2022Core PCE QoQ5.50%5.00%
4/28/2022Initial Jobless Claims180k184k
4/28/2022Continuing Claims1400k1417k
4/28/2022Kansas City Fed Manf. Activity3537
4/29/2022Employment Cost Index1.10%1.00%
4/29/2022Personal Income0.40%0.50%
4/29/2022Personal Spending0.70%0.20%
4/29/2022Real Personal Spending-0.10%-0.40%
4/29/2022PCE Deflator MoM0.90%0.60%
4/29/2022PCE Deflator YoY6.70%6.40%
4/29/2022PCE Core Deflator MoM0.30%0.40%
4/29/2022PCE Core Deflator YoY5.30%5.40%
4/29/2022MNI Chicago PMI6262.9
4/29/2022U. of Mich. Sentiment65.765.7
4/29/2022U. of Mich. Current Conditions68.1
4/29/2022U. of Mich. Expectations64.1
4/29/2022U. of Mich. 1 Yr Inflation5.50%5.40%
4/29/2022U. of Mich. 5-10 Yr Inflation3.00%


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