Treasuries moved slightly higher overnight as oil prices fell, crude was down 0.2%; while equity markets largely traded sideways. Today’s calendar is light in terms of data releases, but the week picks up Wednesday and Thursday, as the Fed will announces it rate decision on Wednesday, while the ECB will announce its tapering plan on Thursday.

Hafizan Hamzah
Director, Investment Management Group

12/11JOLTS Job Openings61356093
12/12NFIB Small Business Optimism104103.8
12/12PPI Final Demand MoM0.30%0.40%
12/12PPI Ex Food and Energy MoM0.20%0.40%
12/12PPI Ex Food, Energy, Trade MoM0.20%0.20%
12/12PPI Final Demand YoY2.90%2.80%
12/12PPI Ex Food and Energy YoY2.40%2.40%
12/12PPI Ex Food, Energy, Trade YoY2.30%
12/12Monthly Budget Statement-$135.0b-$136.7b
12/13MBA Mortgage Applications4.70%
12/13CPI MoM0.40%0.10%
12/13CPI Ex Food and Energy MoM0.20%0.20%
12/13CPI YoY2.20%2.00%
12/13CPI Ex Food and Energy YoY1.80%1.80%
12/13CPI Core Index SA253.961253.428
12/13CPI Index NSA246.798246.663
12/13Real Avg Weekly Earnings YoY0.40%0.30%
12/13Real Avg Hourly Earning YoY0.40%0.20%
12/13FOMC Rate Decision (Upper Bound)1.50%1.25%
12/13FOMC Rate Decision (Lower Bound)1.25%1.00%
12/14Initial Jobless Claims237k236k
12/14Continuing Claims1900k1908k
12/14Retail Sales Advance MoM0.30%0.20%
12/14Retail Sales Ex Auto MoM0.60%0.10%
12/14Retail Sales Ex Auto and Gas0.40%0.30%
12/14Retail Sales Control Group0.40%0.30%
12/14Import Price Index MoM0.70%0.20%
12/14Import Price Index ex Petroleum MoM0.10%0.10%
12/14Import Price Index YoY3.30%2.50%
12/14Export Price Index MoM0.30%0.00%
12/14Export Price Index YoY2.70%
12/14Markit US Manufacturing PMI53.753.9
12/14Markit US Services PMI54.654.5
12/14Markit US Composite PMI54.5
12/14Bloomberg Consumer Comfort52.3
12/14Business Inventories-0.10%0.00%
12/15Empire Manufacturing18.819.4
12/15Bloomberg Dec. United States Economic Survey
12/15Industrial Production MoM0.30%0.90%
12/15Capacity Utilization77.20%77.00%
12/15Manufacturing (SIC) Production0.30%1.30%
12/15Total Net TIC Flows-$51.3b
12/15Net Long-term TIC Flows$80.9b