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 PMI—52.651.6—
8/5/2019ISM Non-Manufacturing Index55.553.755.1—
8/6/2019JOLTS Job Openings7326734873237384
8/7/2019MBA Mortgage Applications—5.30%-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 Comfort——64.7—
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 YoY——2.10%—

 

 

 

 

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