April 8, 2022 Headlines

The Treasury curve is higher and flatter this morning, with front-end yields up 6 bps and the long-end up 4 bps, due to inflation concerns. Meanwhile, equity futures are pointing to a higher open this morning as stocks pare some of the losses taken this week. The economic calendar is light today with Wholesale Inventories the only release on the docket. Next week the market will be focused on inflation data with CPI (+1.2% m/m and +8.4% y/y expected) coming out on the 12th and PPI (+1.1% m/m and +10.6% y/y expected) the following day.

Hafizan Hamzah
Senior Director, Investment Management Group

DateEventSurv(M)ActualPriorRevised
04/04/22Factory Orders-0.60%-0.50%1.40%1.50%
04/04/22Factory Orders Ex Trans0.30%0.40%1.00%1.20%
04/04/22Durable Goods Orders-2.20%-2.10%-2.20%—
04/04/22Durables Ex Transportation-0.60%-0.60%-0.60%—
04/04/22Cap Goods Orders Nondef Ex Air—-0.20%-0.30%—
04/04/22Cap Goods Ship Nondef Ex Air—0.30%0.50%—
04/05/22Trade Balance-$88.5b-$89.2b-$89.7b-$89.2b
04/05/22S&P Global US Services PMI58.95858.9—
04/05/22S&P Global US Composite PMI58.557.758.5—
04/05/22ISM Services Index58.558.356.5—
04/06/22MBA Mortgage Applications—-6.30%-6.80%—
04/06/22FOMC Meeting Minutes————
04/07/22Revisions: Jobless Claims
04/07/22Initial Jobless Claims200k166k202k171k
04/07/22Continuing Claims1302k1523k1307k1506k
04/07/22Consumer Credit$18.100b$41.820b$6.838b$8.931b
04/08/22Bloomberg April United States Economic Survey
04/08/22Wholesale Inventories MoM2.10%—2.10%—
04/08/22Wholesale Trade Sales MoM0.80%—4.00%—

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