February 1, 2022 Headlines

A welcomed rally in the Treasury market has yields down 3 basis points across the curve following a relatively quiet overnight session. Equities are still struggling to gain footing in 2022, with S&P 500 futures slightly lower following the worst month for the index (-5.17%) since March 2020. It was also the worst January for the index since 2009. The next big events for the bond market are Thursday’s decisions from the Bank of England and European Central Bank, as well as the January jobs report on Friday. Regarding the latter, the White House is preparing for a worse-than-expected payrolls number due to Omicron, according to Axios.

Jason Haley
Chief Investment Officer

Date Event Surv(M) Actual Prior Revised
01/31/22 MNI Chicago PMI 61.5 65.2 63.1 64.3
01/31/22 Dallas Fed Manf. Activity 8 2 8.1 7.8
02/01/22 Markit US Manufacturing PMI 55 55
02/01/22 Construction Spending MoM 0.60% 0.40%
02/01/22 ISM Manufacturing 57.5 58.7 58.8
02/01/22 ISM Prices Paid 67 68.2
02/01/22 ISM New Orders 58 60.4 61
02/01/22 ISM Employment 53 54.2 53.9
02/01/22 JOLTS Job Openings 10300k 10562k
02/01/22 Wards Total Vehicle Sales 13.00m 12.44m
02/02/22 MBA Mortgage Applications -7.10%
02/02/22 ADP Employment Change 184k 807k
02/03/22 Challenger Job Cuts YoY -75.30%
02/03/22 Nonfarm Productivity 3.90% -5.20%
02/03/22 Unit Labor Costs 1.00% 9.60%
02/03/22 Initial Jobless Claims 245k 260k
02/03/22 Continuing Claims 1619k 1675k
02/03/22 Markit US Services PMI 50.9 50.9
02/03/22 Markit US Composite PMI 50.8 50.8
02/03/22 ISM Services Index 59.6 62 62.3
02/03/22 Factory Orders -0.40% 1.60%
02/03/22 Factory Orders Ex Trans 0.40% 0.80%
02/03/22 Durable Goods Orders -0.90% -0.90%
02/03/22 Durables Ex Transportation 0.40%
02/03/22 Cap Goods Orders Nondef Ex Air 0.00%
02/03/22 Cap Goods Ship Nondef Ex Air 1.30%
02/04/22 Revisions: Employment Report – Establishment Survey
02/04/22 Change in Nonfarm Payrolls 150k 199k
02/04/22 Two-Month Payroll Net Revision 141k
02/04/22 Change in Private Payrolls 100k 211k
02/04/22 Change in Manufact. Payrolls 21k 26k
02/04/22 Unemployment Rate 3.90% 3.90%
02/04/22 Average Hourly Earnings MoM 0.50% 0.60%
02/04/22 Average Hourly Earnings YoY 5.20% 4.70%
02/04/22 Average Weekly Hours All Employees 34.7 34.7
02/04/22 Labor Force Participation Rate 61.90% 61.90%
02/04/22 Underemployment Rate 7.30%

 

Subscribe Today!

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

Recent Articles

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.