July 15, 2019 Headlines

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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