August 8, 2019 Headlines

Treasuries fluctuated between positive and negative territory overnight, with current prices slightly higher on the day. Global equity markets are also higher today, including S&P 500 futures (+0.4%). China’s central bank fixed its currency stronger versus the dollar today than analysts were expecting, easing concerns somewhat in risk markets. There’s a 30-year Treasury auction this afternoon, which will test the market’s appetite for duration in U.S. bonds following a 30 bps rally over the last week. Credit spreads are tighter this morning, and mortgages are off to a better start this morning after a rough start in August amid lower rates and faster-than-expected July prepayment speeds.

Jason Haley
Managing Director, Investment Management Group

DateEventSurveyActualPriorRevised
8/5/2019Markit US Services PMI52.25352.2
8/5/2019Markit US Composite PMI52.651.6
8/5/2019ISM Non-Manufacturing Index55.553.755.1
8/6/2019JOLTS Job Openings7326734873237384
8/7/2019MBA Mortgage Applications5.30%-1.40%
8/7/2019Consumer Credit$16.100b$14.596b$17.086b$17.793b
8/8/2019Initial Jobless Claims215k209k215k217k
8/8/2019Continuing Claims1690k1684k1699k
8/8/2019Bloomberg Aug. United States Economic Survey
8/8/2019Bloomberg Consumer Comfort64.7
8/8/2019Wholesale Trade Sales MoM0.20%0.10%
8/8/2019Wholesale Inventories MoM0.20%0.20%
8/9/2019PPI Final Demand MoM0.20%0.10%
8/9/2019PPI Ex Food and Energy MoM0.20%0.30%
8/9/2019PPI Ex Food, Energy, Trade MoM0.20%0.00%
8/9/2019PPI Final Demand YoY1.70%1.70%
8/9/2019PPI Ex Food and Energy YoY2.30%2.30%
8/9/2019PPI Ex Food, Energy, Trade YoY2.10%

 

 

 

 

Subscribe Today!

Subscribe to our email list and get the latest articles and announcements from ALM First.

ALM First offers investment advisory services through ALM First Financial Advisors, LLC, which is registered with the U.S. Securities and Exchange Commission (“SEC”). SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the firm has attained a particular level of skill or ability. The information contained herein does not constitute investment advice or a recommendation for you to purchase or sell any specific security. You are solely responsible for reviewing the content and for any actions you take or choose not to take based on your review of such content.Information contained herein was derived from third party sources as indicated. While such information is believed to be reliable, no representation or warranty is made concerning the accuracy of any information presented. We have not and will not independently verify this information. Where such sources include opinions and projections, such opinions and projections should be ascribed only to the applicable third party source and not to ALM First.Statements herein that reflect projections or expectations of future financial or economic performance are forward-looking statements. Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct. Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or actual performance. No representation or warranty can be given that the estimates, opinions or assumptions made herein will prove to be accurate. Any projections and forward-looking statements included herein should be considered speculative and are qualified in their entirety by the information and risks disclosed in the confidential offering document. Actual results for any period may or may not approximate such forward-looking statements. No representations or warranties whatsoever are made by ALM First Financial Advisors, LLC or any other person or entity as to the future profitability of investments recommended by ALM First Financial Advisors, LLC.