To start the overnight session, there was no cash US Treasury trading with Japan closed for a holiday. However, futures were open and initially traded lower on better than expected economic data out of China. Both Chinese industrial production and retail sales beat expectations while GDP was as expected at 6.2% YoY. In Europe, Treasuries reversed some of the losses when the German economic ministry highlighted considerable downside risk due to the trade war. Today’s economic highlights include the Empire Manufacturing release and a speech by the New York Fed’s John Williams who is considered a more hawkish member. Later in the week, the focus will shift to Retail Sales on Tuesday, multiple speeches by Federal Reserve policy makers, and US bank’s earning reports.
Chris Eckhoff
Associate, Investment Management Group
Date | Event | Survey | Actual | Prior | Revised |
7/15/2019 | Empire Manufacturing | 2 | 4.3 | -8.6 | — |
7/16/2019 | Import Price Index MoM | -0.70% | — | -0.30% | — |
7/16/2019 | Import Price Index ex Petroleum MoM | -0.20% | — | -0.30% | — |
7/16/2019 | Import Price Index YoY | -2.30% | — | -1.50% | — |
7/16/2019 | Export Price Index MoM | -0.30% | — | -0.20% | — |
7/16/2019 | Export Price Index YoY | — | — | -0.70% | — |
7/16/2019 | Retail Sales Advance MoM | 0.10% | — | 0.50% | — |
7/16/2019 | Retail Sales Ex Auto MoM | 0.10% | — | 0.50% | — |
7/16/2019 | Retail Sales Ex Auto and Gas | 0.30% | — | 0.50% | — |
7/16/2019 | Retail Sales Control Group | 0.30% | — | 0.50% | 0.40% |
7/16/2019 | Industrial Production MoM | 0.10% | — | 0.40% | — |
7/16/2019 | Manufacturing (SIC) Production | 0.30% | — | 0.20% | — |
7/16/2019 | Capacity Utilization | 78.10% | — | 78.10% | — |
7/16/2019 | NAHB Housing Market Index | 64 | — | 64 | — |
7/16/2019 | Business Inventories | 0.30% | — | 0.50% | — |
7/16/2019 | Net Long-term TIC Flows | — | — | $46.9b | — |
7/16/2019 | Total Net TIC Flows | — | — | -$7.8b | — |
7/17/2019 | MBA Mortgage Applications | — | — | -2.40% | — |
7/17/2019 | Housing Starts | 1260k | — | 1269k | — |
7/17/2019 | Housing Starts MoM | -0.70% | — | -0.90% | — |
7/17/2019 | Building Permits | 1300k | — | 1294k | 1299k |
7/17/2019 | Building Permits MoM | 0.10% | — | 0.30% | 0.70% |
7/17/2019 | U.S. Federal Reserve Releases Beige Book | ||||
7/18/2019 | Philadelphia Fed Business Outlook | 5 | — | 0.3 | — |
7/18/2019 | Initial Jobless Claims | 216k | — | 209k | — |
7/18/2019 | Continuing Claims | 1703k | — | 1723k | — |
7/18/2019 | Bloomberg Consumer Comfort | — | — | 63.8 | — |
7/18/2019 | Bloomberg Economic Expectations | — | — | 50.5 | — |
7/18/2019 | Leading Index | 0.10% | — | 0.00% | — |
7/19/2019 | U. of Mich. Sentiment | 98.7 | — | 98.2 | — |
7/19/2019 | U. of Mich. Current Conditions | — | — | 111.9 | — |
7/19/2019 | U. of Mich. Expectations | — | — | 89.3 | — |
7/19/2019 | U. of Mich. 1 Yr Inflation | — | — | 2.70% | — |
7/19/2019 | U. of Mich. 5-10 Yr Inflation | — | — | 2.30% | — |
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