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

Date	Event	Survey	Actual	Prior	Revised
4/26/2022	Durable Goods Orders	1.00%	0.80%	-2.10%	-1.70%
4/26/2022	Durables Ex Transportation	0.60%	1.10%	-0.60%	-0.50%
4/26/2022	Cap Goods Orders Nondef Ex Air	0.50%	1.00%	-0.20%	-0.30%
4/26/2022	Cap Goods Ship Nondef Ex Air	0.50%	0.20%	0.30%	0.20%
4/26/2022	FHFA House Price Index MoM	1.50%	—	1.60%	—
4/26/2022	S&P CoreLogic CS 20-City MoM SA	1.50%	—	1.79%	—
4/26/2022	S&P CoreLogic CS 20-City YoY NSA	19.20%	—	19.10%	—
4/26/2022	S&P CoreLogic CS US HPI YoY NSA	—	—	19.17%	—
4/26/2022	Conf. Board Consumer Confidence	108.2	—	107.2	—
4/26/2022	Conf. Board Present Situation	—	—	153	—
4/26/2022	Conf. Board Expectations	—	—	76.6	—
4/26/2022	Richmond Fed Manufact. Index	9	—	13	—
4/26/2022	New Home Sales	768k	—	772k	—
4/26/2022	New Home Sales MoM	-0.60%	—	-2.00%	—
4/27/2022	MBA Mortgage Applications	—	—	-5.00%	—
4/27/2022	Advance Goods Trade Balance	-$105.0b	—	-$106.6b	-$106.3b
4/27/2022	Wholesale Inventories MoM	1.50%	—	2.50%	—
4/27/2022	Retail Inventories MoM	1.40%	—	1.10%	—
4/27/2022	Pending Home Sales MoM	-1.00%	—	-4.10%	—
4/27/2022	Pending Home Sales NSA YoY	-8.10%	—	-5.40%	—
4/28/2022	GDP Annualized QoQ	1.10%	—	6.90%	—
4/28/2022	Personal Consumption	3.50%	—	2.50%	—
4/28/2022	GDP Price Index	7.20%	—	7.10%	—
4/28/2022	Core PCE QoQ	5.50%	—	5.00%	—
4/28/2022	Initial Jobless Claims	180k	—	184k	—
4/28/2022	Continuing Claims	1400k	—	1417k	—
4/28/2022	Kansas City Fed Manf. Activity	35	—	37	—
4/29/2022	Employment Cost Index	1.10%	—	1.00%	—
4/29/2022	Personal Income	0.40%	—	0.50%	—
4/29/2022	Personal Spending	0.70%	—	0.20%	—
4/29/2022	Real Personal Spending	-0.10%	—	-0.40%	—
4/29/2022	PCE Deflator MoM	0.90%	—	0.60%	—
4/29/2022	PCE Deflator YoY	6.70%	—	6.40%	—
4/29/2022	PCE Core Deflator MoM	0.30%	—	0.40%	—
4/29/2022	PCE Core Deflator YoY	5.30%	—	5.40%	—
4/29/2022	MNI Chicago PMI	62	—	62.9	—
4/29/2022	U. of Mich. Sentiment	65.7	—	65.7	—
4/29/2022	U. of Mich. Current Conditions	—	—	68.1	—
4/29/2022	U. of Mich. Expectations	—	—	64.1	—
4/29/2022	U. of Mich. 1 Yr Inflation	5.50%	—	5.40%	—
4/29/2022	U. of Mich. 5-10 Yr Inflation	—	—	3.00%	—

Subscribe Today!

Subscribe to our email list and get the latest articles and announcements from ALM First.

Recent Articles

December 1, 2023 Headlines November 30, 2023
November 30, 2023 Headlines November 29, 2023
November 29, 2023 Headlines November 29, 2023

ALM First offers investment advisory services through ALM First Financial Advisors, LLC, which is registered with the U.S. Securities and Exchange Commission (“SEC”). SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the firm has attained a particular level of skill or ability. The information contained herein does not constitute investment advice or a recommendation for you to purchase or sell any specific security. You are solely responsible for reviewing the content and for any actions you take or choose not to take based on your review of such content.Information contained herein was derived from third party sources as indicated. While such information is believed to be reliable, no representation or warranty is made concerning the accuracy of any information presented. We have not and will not independently verify this information. Where such sources include opinions and projections, such opinions and projections should be ascribed only to the applicable third party source and not to ALM First.Statements herein that reflect projections or expectations of future financial or economic performance are forward-looking statements. Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct. Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or actual performance. No representation or warranty can be given that the estimates, opinions or assumptions made herein will prove to be accurate. Any projections and forward-looking statements included herein should be considered speculative and are qualified in their entirety by the information and risks disclosed in the confidential offering document. Actual results for any period may or may not approximate such forward-looking statements. No representations or warranties whatsoever are made by ALM First Financial Advisors, LLC or any other person or entity as to the future profitability of investments recommended by ALM First Financial Advisors, LLC.