January 8, 2020 Headlines

When news broke that Iranian missiles struck American military bases in Iraq, US Treasuries initially rallied to a low of 1.703%. Once it became apparent that there were no US casualties’ in the attacks, yields reversed course and erased earlier gains. The 10-year yield is unchanged at a yield of 1.818% and S&P500 futures are pointing to an implied open +.21%. President Trump is expected to make a statement later this morning regarding the attack. Today’s focus also includes $24 billion in a 10-year treasury auction and heavy corporate issuance which has already totaled over $45 billion this week.

Chris Eckhoff
Associate, Investment Management Group

DateEventSurveyActualPriorRevised
1/6/2020Markit US Services PMI52.252.852.2—
1/6/2020Markit US Composite PMI—52.752.2—
1/7/2020Trade Balance-$43.6b-$43.1b-$47.2b-$46.9b
1/7/2020ISM Non-Manufacturing Index54.55553.9—
1/7/2020Factory Orders-0.80%-0.70%0.30%0.20%
1/7/2020Factory Orders Ex Trans—0.30%0.20%0.30%
1/7/2020Durable Goods Orders-2.00%-2.10%-2.00%—
1/7/2020Durables Ex Transportation—-0.10%0.00%—
1/7/2020Cap Goods Orders Nondef Ex Air—0.20%0.10%—
1/7/2020Cap Goods Ship Nondef Ex Air—-0.30%-0.30%—
1/8/2020MBA Mortgage Applications—13.50%-13.20%—
1/8/2020ADP Employment Change160k202k67k124k
1/8/2020Consumer Credit$16.000b—$18.908b—
1/9/2020Revisions: Philadelphia Fed Manufacturing Index
1/9/2020Initial Jobless Claims220k—222k—
1/9/2020Continuing Claims1720k—1728k—
1/9/2020Bloomberg Consumer Comfort——63.9—
1/10/2020Revisions: Household Survey Data
1/10/2020Change in Nonfarm Payrolls160k—266k—
1/10/2020Two-Month Payroll Net Revision——41k—
1/10/2020Change in Private Payrolls153k—254k—
1/10/2020Change in Manufact. Payrolls5k—54k—
1/10/2020Unemployment Rate3.50%—3.50%—
1/10/2020Average Hourly Earnings MoM0.30%—0.20%—
1/10/2020Average Hourly Earnings YoY3.10%—3.10%—
1/10/2020Average Weekly Hours All Employees34.4—34.4—
1/10/2020Labor Force Participation Rate——63.20%—
1/10/2020Underemployment Rate——6.90%—
1/10/2020Bloomberg Jan. United States Economic Survey
1/10/2020Wholesale Inventories MoM0.00%—0.00%—
1/10/2020Wholesale Trade Sales MoM0.20%—-0.70%—

 

 

 

 

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