April 6, 2021 Headlines

Rates are slightly lower this morning as the equity rally stalled. Block trades from Credit Suisse associated with Archegos Capital Management led stock prices lower. The equity markets had been on a tear for the past three days and the S&P 500 breached 4,000 for the first time in history. The recent stimulus bill in combination with increasing vaccinations catalyzed the euphoria. Today’s economic calendar is light with only the JOLTS job openings release as the only item on the docket. Tomorrow will see the release of the March FOMC minutes.

Hafizan Hamzah
Director, Investment Management Group

Date Event Surv(M) Actual Prior Revised
04/05/21 Markit US Services PMI 60.2 60.4 60
04/05/21 Markit US Composite PMI 59.7 59.1
04/05/21 ISM Services Index 59 63.7 55.3
04/05/21 Factory Orders -0.50% -0.80% 2.60% 2.70%
04/05/21 Factory Orders Ex Trans -1.10% -0.60% 1.70% 1.80%
04/05/21 Durable Goods Orders -1.10% -1.20% -1.10%
04/05/21 Durables Ex Transportation -0.90% -0.90% -0.90%
04/05/21 Cap Goods Orders Nondef Ex Air -0.80% -0.90% -0.80%
04/05/21 Cap Goods Ship Nondef Ex Air -1.10% -1.00%
04/06/21 JOLTS Job Openings 6900 6917
04/07/21 MBA Mortgage Applications -2.20%
04/07/21 Trade Balance -$70.5b -$68.2b
04/07/21 FOMC Meeting Minutes
04/07/21 Consumer Credit $2.800b -$1.315b
04/08/21 Initial Jobless Claims 680k 719k
04/08/21 Continuing Claims 3638k 3794k
04/08/21 Langer Consumer Comfort 50
04/09/21 PPI Final Demand MoM 0.50% 0.50%
04/09/21 PPI Ex Food and Energy MoM 0.20% 0.20%
04/09/21 PPI Ex Food, Energy, Trade MoM 0.20% 0.20%
04/09/21 PPI Final Demand YoY 3.80% 2.80%
04/09/21 PPI Ex Food and Energy YoY 2.70% 2.50%
04/09/21 PPI Ex Food, Energy, Trade YoY 2.70% 2.20%
04/09/21 Bloomberg April United States Economic Survey
04/09/21 Wholesale Inventories MoM 0.50% 0.50%
04/09/21 Wholesale Trade Sales MoM 4.90%

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