US Treasuries weakened initially during the overnight session on the back of strong economic data from the European Union. Both French and Italian industrial production numbers came in better than expected. However, the move began to reverse course as the EU downgraded its 2020 economic forecast which highlighted the growth of downside risks. The UST gains continued before the New York open as Federal Reserve Chairman Powell signaled an openness to cut the Federal Funds rate amid softening business investment and sluggish inflation. The remarks proceed two days of testimony to both the House of Representatives and Senate regarding economic and policy outlook. In addition, the release of the Federal Reserve minutes is expected later today.
Chris Eckhoff
Associate, Investment Management Group
Date | Event | Survey | Actual | Prior | Revised |
7/8/2019 | Consumer Credit | $17.000b | $17.086b | $17.497b | $17.457b |
7/9/2019 | NFIB Small Business Optimism | 103.1 | 103.3 | 105 | — |
7/9/2019 | JOLTS Job Openings | 7470 | 7323 | 7449 | 7372 |
7/10/2019 | MBA Mortgage Applications | — | -2.40% | -0.10% | — |
7/10/2019 | Wholesale Inventories MoM | 0.40% | — | 0.40% | — |
7/10/2019 | Wholesale Trade Sales MoM | 0.30% | — | -0.40% | — |
7/10/2019 | FOMC Meeting Minutes | — | — | — | — |
7/11/2019 | CPI MoM | 0.00% | — | 0.10% | — |
7/11/2019 | CPI Ex Food and Energy MoM | 0.20% | — | 0.10% | — |
7/11/2019 | CPI YoY | 1.60% | — | 1.80% | — |
7/11/2019 | CPI Ex Food and Energy YoY | 2.00% | — | 2.00% | — |
7/11/2019 | CPI Core Index SA | 262.564 | — | 262.032 | — |
7/11/2019 | Initial Jobless Claims | 221k | — | 221k | — |
7/11/2019 | CPI Index NSA | 256.093 | — | 256.092 | — |
7/11/2019 | Continuing Claims | 1683k | — | 1686k | — |
7/11/2019 | Real Avg Hourly Earning YoY | — | — | 1.30% | — |
7/11/2019 | Real Avg Weekly Earnings YoY | — | — | 1.00% | — |
7/11/2019 | Bloomberg Consumer Comfort | — | — | 62.6 | — |
7/11/2019 | Monthly Budget Statement | -$7.9b | — | -$207.8b | — |
7/12/2019 | PPI Final Demand MoM | 0.00% | — | 0.10% | — |
7/12/2019 | PPI Ex Food and Energy MoM | 0.20% | — | 0.20% | — |
7/12/2019 | PPI Ex Food, Energy, Trade MoM | 0.20% | — | 0.40% | — |
7/12/2019 | PPI Final Demand YoY | 1.60% | — | 1.80% | — |
7/12/2019 | PPI Ex Food and Energy YoY | 2.10% | — | 2.30% | — |
7/12/2019 | PPI Ex Food, Energy, Trade YoY | — | — | 2.30% | — |
7/12/2019 | Bloomberg July United States Economic Survey |
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