The Treasury curve is lower and flatter this morning, with the 10-year down 4 bps from yesterday’s close; as a result of yield buyers adding duration after the benchmark rate breached 3%. Initial jobless claims fell by 24,000 from the prior week to 209,000, beating expectations by 21,000.
In Europe, the ECB’s policy statement contained no significant changes or any mention of alterations to stimulus. During his speech Draghi mentioned that the central bank expects growth in the Eurozone to remain solid and broad-based. He also downplayed the idea of the ECB tapering its corporate bond purchases.
Hafizan Hamzah
Director, Investment Management Group
| Date | Event | Surv(M) | Actual | Prior | Revised |
| 04/23 | Chicago Fed Nat Activity Index | 0.28 | 0.1 | 0.88 | 0.98 |
| 04/23 | Markit US Manufacturing PMI | 55.2 | 56.5 | 55.6 | — |
| 04/23 | Markit US Services PMI | 54.1 | 54.4 | 54 | — |
| 04/23 | Markit US Composite PMI | — | 54.8 | 54.2 | — |
| 04/23 | Existing Home Sales | 5.55m | 5.60m | 5.54m | — |
| 04/23 | Existing Home Sales MoM | 0.20% | 1.10% | 3.00% | — |
| 04/24 | FHFA House Price Index MoM | 0.60% | 0.60% | 0.80% | 0.90% |
| 04/24 | S&P CoreLogic CS 20-City MoM SA | 0.70% | 0.83% | 0.75% | 0.81% |
| 04/24 | S&P CoreLogic CS 20-City YoY NSA | 6.35% | 6.80% | 6.40% | 6.43% |
| 04/24 | S&P CoreLogic CS 20-City NSA Index | — | 206.67 | 205.1 | 205.16 |
| 04/24 | S&P CoreLogic CS US HPI NSA Index | — | 197.01 | 196.31 | 196.18 |
| 04/24 | S&P CoreLogic CS US HPI YoY NSA | — | 6.34% | 6.18% | 6.11% |
| 04/24 | New Home Sales | 630k | 694k | 618k | 667k |
| 04/24 | New Home Sales MoM | 1.90% | 4.00% | -0.60% | 3.60% |
| 04/24 | Richmond Fed Manufact. Index | 16 | -3 | 15 | — |
| 04/24 | Conf. Board Consumer Confidence | 126 | 128.7 | 127.7 | 127 |
| 04/24 | Conf. Board Present Situation | — | 159.6 | 159.9 | 158.1 |
| 04/24 | Conf. Board Expectations | — | 108.1 | 106.2 | — |
| 04/25 | MBA Mortgage Applications | — | -0.20% | 4.90% | — |
| 04/26 | Initial Jobless Claims | 230k | 209k | 232k | 233k |
| 04/26 | Continuing Claims | 1850k | 1837k | 1863k | 1866k |
| 04/26 | Durable Goods Orders | 1.60% | 2.60% | 3.00% | 3.50% |
| 04/26 | Durables Ex Transportation | 0.50% | 0.00% | 1.00% | 0.90% |
| 04/26 | Cap Goods Orders Nondef Ex Air | 0.50% | -0.10% | 1.40% | 0.90% |
| 04/26 | Cap Goods Ship Nondef Ex Air | 0.30% | -0.70% | 1.40% | 1.00% |
| 04/26 | Advance Goods Trade Balance | -$75.0b | -$68.0b | -$75.4b | -$75.9b |
| 04/26 | Retail Inventories MoM | — | -0.40% | 0.40% | — |
| 04/26 | Wholesale Inventories MoM | 0.70% | 0.50% | 1.00% | — |
| 04/26 | Bloomberg Consumer Comfort | — | — | 58.1 | — |
| 04/26 | Kansas City Fed Manf. Activity | 17 | — | 17 | — |
| 04/27 | Employment Cost Index | 0.70% | — | 0.60% | — |
| 04/27 | Revisions: Employment Cost Index | ||||
| 04/27 | GDP Annualized QoQ | 2.00% | — | 2.90% | — |
| 04/27 | Personal Consumption | 1.10% | — | 4.00% | — |
| 04/27 | GDP Price Index | 2.20% | — | 2.30% | — |
| 04/27 | Core PCE QoQ | 2.60% | — | 1.90% | — |
| 04/27 | U. of Mich. Sentiment | 98 | — | 97.8 | — |
| 04/27 | U. of Mich. Current Conditions | 106.2 | — | 115 | — |
| 04/27 | U. of Mich. Expectations | — | — | 86.8 | — |
| 04/27 | U. of Mich. 1 Yr Inflation | — | — | 2.70% | — |
| 04/27 | U. of Mich. 5-10 Yr Inflation | — | — | 2.40% | — |