December 5, 2019 Headlines

Heavy new issuance in European Government bonds and continued risk-on sentiment weighed on US Treasury yields. The market has remained focused on the potential for a phase one trade deal between the US and China as the Dec 15^th tariff hike approaches. Recent reports have suggested officials are moving closer to an agreement on the tariff amount to be scaled back. In addition, both the Hong Kong and Xinjiang legislation will have little impact on the negotiations.

Chris Eckhoff
Associate, Investment Management Group

Date	Event	Survey	Actual	Prior	Revised
12/02/19	Markit US Manufacturing PMI	52.2	52.6	52.2	—
12/02/19	ISM Manufacturing	49.2	48.1	48.3	—
12/02/19	ISM Employment	48.2	46.6	47.7	—
12/02/19	ISM Prices Paid	47	46.7	45.5	—
12/02/19	ISM New Orders	49	47.2	49.1	—
12/02/19	Construction Spending MoM	0.40%	-0.80%	0.50%	-0.30%
12/03/19	Wards Total Vehicle Sales	16.90m	17.09m	16.55m	—
12/04/19	MBA Mortgage Applications	—	-9.20%	1.50%	—
12/04/19	ADP Employment Change	135k	67k	125k	121k
12/04/19	Markit US Services PMI	51.6	51.6	51.6	—
12/04/19	Markit US Composite PMI	—	52	51.9	—
12/04/19	ISM Non-Manufacturing Index	54.5	53.9	54.7	—
12/05/19	Challenger Job Cuts YoY	—	-16.00%	-33.50%	—
12/05/19	Initial Jobless Claims	215k	203k	213k	—
12/05/19	Continuing Claims	1660k	1693k	1640k	1642k
12/05/19	Trade Balance	-$48.5b	-$47.2b	-$52.5b	-$51.1b
12/05/19	Bloomberg Consumer Comfort	—	61.7	60.5	—
12/05/19	Factory Orders	0.30%	—	-0.60%	—
12/05/19	Factory Orders Ex Trans	—	—	-0.10%	—
12/05/19	Durable Goods Orders	0.60%	—	0.60%	—
12/05/19	Durables Ex Transportation	0.60%	—	0.60%	—
12/05/19	Cap Goods Orders Nondef Ex Air	—	—	1.20%	—
12/05/19	Cap Goods Ship Nondef Ex Air	—	—	0.80%	—
12/06/19	Two-Month Payroll Net Revision	—	—	—	—
12/06/19	Change in Nonfarm Payrolls	185k	—	128k	—
12/06/19	Change in Private Payrolls	179k	—	131k	—
12/06/19	Change in Manufact. Payrolls	40k	—	-36k	—
12/06/19	Unemployment Rate	3.60%	—	3.60%	—
12/06/19	Average Hourly Earnings MoM	0.30%	—	0.20%	—
12/06/19	Average Hourly Earnings YoY	3.00%	—	3.00%	—
12/06/19	Average Weekly Hours All Employees	34.4	—	34.4	—
12/06/19	Labor Force Participation Rate	—	—	63.30%	—
12/06/19	Underemployment Rate	—	—	7.00%	—
12/06/19	Wholesale Inventories MoM	0.20%	—	0.20%	—
12/06/19	Wholesale Trade Sales MoM	—	—	0.00%	—
12/06/19	U. of Mich. Sentiment	97	—	96.8	—
12/06/19	U. of Mich. Current Conditions	112.8	—	111.6	—
12/06/19	U. of Mich. Expectations	87.5	—	87.3	—
12/06/19	U. of Mich. 1 Yr Inflation	—	—	2.50%	—
12/06/19	U. of Mich. 5-10 Yr Inflation	—	—	2.50%	—
12/06/19	Consumer Credit	$16.000b	—	$9.513b	—

Subscribe Today!

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

Recent Articles

October 19, 2020 Headlines October 19, 2020
October 16, 2020 Headlines October 16, 2020
October 15, 2020 Headlines October 15, 2020

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.