Treasuries fluctuated between positive and negative territory overnight on mixed economic data oversees. Yields are slightly lower on the long-end this morning, and U.S. equity futures have given back early gains after a ECB Governing Council member Robert Holzmann suggested it was time to scale back bond purchases in the region. Regarding the latter, Holzmann is generally considered a super-hawk and is a non-voting member this year (i.e., grain of salt). China’s non-manufacturing PMI index fell sharply to 47.5 in August from 53.3 the prior month, the first time below 50 since February 2020. Readings below 50 indicate contraction in activity, and the manufacturing index also disappointed versus expectations. August inflation in the Eurozone rose more than expected in August to a 10-year high, fueled by increases in food and energy costs.
Jason Haley
Chief Investment Officer
Date | Event | Surv(M) | Actual | Prior | Revised |
08/30/21 | Pending Home Sales MoM | 0.30% | -1.80% | -1.90% | -2.00% |
08/30/21 | Pending Home Sales NSA YoY | -8.80% | -9.50% | -3.30% | -3.50% |
08/30/21 | Dallas Fed Manf. Activity | 23 | 9 | 27.3 | — |
08/31/21 | FHFA House Price Index MoM | 1.90% | — | 1.70% | — |
08/31/21 | House Price Purchase Index QoQ | — | — | 3.50% | — |
08/31/21 | S&P CoreLogic CS 20-City MoM SA | 1.80% | — | 1.81% | — |
08/31/21 | S&P CoreLogic CS 20-City YoY NSA | 18.60% | — | 16.99% | — |
08/31/21 | S&P CoreLogic CS US HPI YoY NSA | — | — | 16.61% | — |
08/31/21 | MNI Chicago PMI | 68 | — | 73.4 | — |
08/31/21 | Conf. Board Consumer Confidence | 123 | — | 129.1 | — |
08/31/21 | Conf. Board Present Situation | — | — | 160.3 | — |
08/31/21 | Conf. Board Expectations | — | — | 108.4 | — |
09/01/21 | MBA Mortgage Applications | — | — | 1.60% | — |
09/01/21 | ADP Employment Change | 625k | — | 330k | — |
09/01/21 | Markit US Manufacturing PMI | 61.2 | — | 61.2 | — |
09/01/21 | Construction Spending MoM | 0.20% | — | 0.10% | — |
09/01/21 | ISM Manufacturing | 58.5 | — | 59.5 | — |
09/01/21 | ISM Prices Paid | 83.8 | — | 85.7 | — |
09/01/21 | ISM New Orders | — | — | 64.9 | — |
09/01/21 | ISM Employment | — | — | 52.9 | — |
09/01/21 | Wards Total Vehicle Sales | 14.50m | — | 14.75m | — |
09/02/21 | Challenger Job Cuts YoY | — | — | -92.80% | — |
09/02/21 | Nonfarm Productivity | 2.50% | — | 2.30% | — |
09/02/21 | Initial Jobless Claims | 345k | — | 353k | — |
09/02/21 | Unit Labor Costs | 0.90% | — | 1.00% | — |
09/02/21 | Continuing Claims | 2810k | — | 2862k | — |
09/02/21 | Trade Balance | -$70.9b | — | -$75.7b | — |
09/02/21 | Langer Consumer Comfort | — | — | 57.2 | — |
09/02/21 | Factory Orders | 0.30% | — | 1.50% | — |
09/02/21 | Factory Orders Ex Trans | — | — | 1.40% | — |
09/02/21 | Durable Goods Orders | -0.10% | — | -0.10% | — |
09/02/21 | Durables Ex Transportation | 0.70% | — | 0.70% | — |
09/02/21 | Cap Goods Orders Nondef Ex Air | — | — | 0.00% | — |
09/02/21 | Cap Goods Ship Nondef Ex Air | — | — | 1.00% | — |
09/03/21 | Change in Nonfarm Payrolls | 745k | — | 943k | — |
09/03/21 | Two-Month Payroll Net Revision | — | — | 119k | — |
09/03/21 | Change in Private Payrolls | 618k | — | 703k | — |
09/03/21 | Change in Manufact. Payrolls | 25k | — | 27k | — |
09/03/21 | Unemployment Rate | 5.20% | — | 5.40% | — |
09/03/21 | Average Hourly Earnings MoM | 0.30% | — | 0.40% | — |
09/03/21 | Average Hourly Earnings YoY | 4.00% | — | 4.00% | — |
09/03/21 | Average Weekly Hours All Employees | 34.8 | — | 34.8 | — |
09/03/21 | Labor Force Participation Rate | 61.80% | — | 61.70% | — |
09/03/21 | Underemployment Rate | — | — | 9.20% | — |
09/03/21 | Markit US Services PMI | 55.2 | — | 55.2 | — |
09/03/21 | Markit US Composite PMI | — | — | 55.4 | — |
09/03/21 | ISM Services Index | 61.6 | — | 64.1 | — |
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