Treasury yields are 5-7 bps higher across the curve following a relatively quiet overnight session from a trading volumes perspective. A more hawkish tone from the Australian central bank, as well as strong economic data from U.K and the Euro zone, are contributing to the bearish tone in bonds today. Bloomberg is reporting that the Treasury Department is no longer allowing dollar debt payments from Russian government accounts at U.S. banks, creating an even greater challenge for Moscow to find a way to pay bond investors and avoid default. The market may remain quieter until the release of the March 16 FOMC minutes tomorrow afternoon. Bond investors will paying particular attention to the discussion of balance sheet reduction plans.
Jason Haley
Chief Investment Officer
Date | Event | Surv(M) | Actual | Prior | Revised |
04/04/22 | Factory Orders | -0.60% | -0.50% | 1.40% | 1.50% |
04/04/22 | Factory Orders Ex Trans | 0.30% | 0.40% | 1.00% | 1.20% |
04/04/22 | Durable Goods Orders | -2.20% | -2.10% | -2.20% | — |
04/04/22 | Durables Ex Transportation | -0.60% | -0.60% | -0.60% | — |
04/04/22 | Cap Goods Orders Nondef Ex Air | — | -0.20% | -0.30% | — |
04/04/22 | Cap Goods Ship Nondef Ex Air | — | 0.30% | 0.50% | — |
04/05/22 | Trade Balance | -$88.5b | -$89.2b | -$89.7b | -$89.2b |
04/05/22 | S&P Global US Services PMI | 58.9 | — | 58.9 | — |
04/05/22 | S&P Global US Composite PMI | 58.5 | — | 58.5 | — |
04/05/22 | ISM Services Index | 58.5 | — | 56.5 | — |
04/06/22 | MBA Mortgage Applications | — | — | -6.80% | — |
04/06/22 | FOMC Meeting Minutes | — | — | — | — |
04/07/22 | Revisions: Jobless Claims | ||||
04/07/22 | Initial Jobless Claims | 200k | — | 202k | — |
04/07/22 | Continuing Claims | 1302k | — | 1307k | — |
04/07/22 | Consumer Credit | $18.100b | — | $6.838b | — |
04/08/22 | Bloomberg April United States Economic Survey | ||||
04/08/22 | Wholesale Trade Sales MoM | 0.80% | — | 4.00% | — |
04/08/22 | Wholesale Inventories MoM | 2.10% | — | 2.10% | — |
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