Treasury yields are roughly a basis point lower this morning following an overnight session that saw equities and commodities rally. Economic data out of Europe was mixed, with German industrial production coming in lower than expected, while Eurozone third quarter GDP came in as expected with a 0.6% increase quarter over quarter. In the US, initial jobless claims declined by 2,000 from the prior week and the number of Americans continuing to receive unemployment benefits fell as well to 1,908k from 1,957k.
Hafizan Hamzah
Director, Investment Management Group
| Date | Event | Surv(M) | Actual | Prior | Revised |
| 12/04 | Factory Orders | -0.40% | -0.10% | 1.40% | 1.70% |
| 12/04 | Factory Orders Ex Trans | — | 0.80% | 0.70% | 1.10% |
| 12/04 | Durable Goods Orders | -1.10% | -0.80% | -1.20% | — |
| 12/04 | Durables Ex Transportation | — | 0.90% | 0.40% | — |
| 12/04 | Cap Goods Orders Nondef Ex Air | — | 0.30% | -0.50% | — |
| 12/04 | Cap Goods Ship Nondef Ex Air | — | 1.10% | 0.40% | — |
| 12/05 | Trade Balance | -$47.5b | -$48.7b | -$43.5b | -$44.9b |
| 12/05 | Markit US Services PMI | 55.2 | 54.5 | 54.7 | — |
| 12/05 | Markit US Composite PMI | — | 54.5 | 54.6 | — |
| 12/05 | ISM Non-Manf. Composite | 59 | 57.4 | 60.1 | — |
| 12/06 | MBA Mortgage Applications | — | 4.70% | -3.10% | — |
| 12/06 | ADP Employment Change | 190k | 190k | 235k | — |
| 12/06 | Nonfarm Productivity | 3.30% | 3.00% | 3.00% | — |
| 12/06 | Unit Labor Costs | 0.20% | -0.20% | 0.50% | — |
| 12/07 | Challenger Job Cuts YoY | — | 30.10% | -3.00% | — |
| 12/07 | Initial Jobless Claims | 240k | 236k | 238k | — |
| 12/07 | Continuing Claims | 1919k | 1908k | 1957k | 1960k |
| 12/07 | Bloomberg Consumer Comfort | — | 52.3 | 51.6 | — |
| 12/07 | Household Change in Net Worth | — | — | $1698b | — |
| 12/07 | Consumer Credit | $17.000b | — | $20.830b | — |
| 12/08 | Change in Nonfarm Payrolls | 195k | — | 261k | — |
| 12/08 | Two-Month Payroll Net Revision | — | — | 90k | — |
| 12/08 | Change in Private Payrolls | 198k | — | 252k | — |
| 12/08 | Change in Manufact. Payrolls | 15k | — | 24k | — |
| 12/08 | Unemployment Rate | 4.10% | — | 4.10% | — |
| 12/08 | Average Hourly Earnings MoM | 0.30% | — | 0.00% | — |
| 12/08 | Average Hourly Earnings YoY | 2.70% | — | 2.40% | — |
| 12/08 | Average Weekly Hours All Employees | 34.4 | — | 34.4 | — |
| 12/08 | Labor Force Participation Rate | — | — | 62.70% | — |
| 12/08 | Underemployment Rate | — | — | 7.90% | — |
| 12/08 | Wholesale Inventories MoM | -0.40% | — | -0.40% | — |
| 12/08 | Wholesale Trade Sales MoM | 0.30% | — | 1.30% | — |
| 12/08 | U. of Mich. Sentiment | 99 | — | 98.5 | — |
| 12/08 | U. of Mich. Current Conditions | 114.3 | — | 113.5 | — |
| 12/08 | U. of Mich. Expectations | 90.5 | — | 88.9 | — |
| 12/08 | U. of Mich. 1 Yr Inflation | — | — | 2.50% | — |
| 12/08 | U. of Mich. 5-10 Yr Inflation | — | — | 2.40% | — |