July 26, 2019 Headlines

US Treasury yields are essentially unchanged, and equities are set to open in the green following a stronger than expected GDP reading. Annualized GDP QoQ slowed from 3.1% to 2.1% but still beat expectations of 1.8% on the back of higher than anticipated personal consumption. This report is unlikely to sway the probability of a rate cut at next weeks FOMC meeting since it has already been promised.

Chris Eckhoff
Associate, Investment Management Group

DateEventSurveyActualPriorRevised
7/22/2019Chicago Fed Nat Activity Index0.08-0.02-0.05-0.03
7/23/2019FHFA House Price Index MoM0.40%0.10%0.40%
7/23/2019Richmond Fed Manufact. Index5-1232
7/23/2019Existing Home Sales5.32m5.27m5.34m5.36m
7/23/2019Existing Home Sales MoM-0.40%-1.70%2.50%2.90%
7/24/2019MBA Mortgage Applications-1.90%-1.10%
7/24/2019Markit US Manufacturing PMI515050.6
7/24/2019Markit US Services PMI51.852.251.5
7/24/2019Markit US Composite PMI51.651.5
7/24/2019New Home Sales658k646k626k604k
7/24/2019New Home Sales MoM5.10%7.00%-7.80%-8.20%
7/25/2019Durable Goods Orders0.70%2.00%-1.30%-2.30%
7/25/2019Durables Ex Transportation0.20%1.20%0.40%0.50%
7/25/2019Cap Goods Orders Nondef Ex Air0.20%1.90%0.50%0.30%
7/25/2019Cap Goods Ship Nondef Ex Air-0.20%0.60%0.60%0.50%
7/25/2019Advance Goods Trade Balance-$72.5b-$74.2b-$74.5b-$75.0b
7/25/2019Wholesale Inventories MoM0.50%0.20%0.40%
7/25/2019Retail Inventories MoM0.20%-0.10%0.50%0.30%
7/25/2019Initial Jobless Claims218k206k216k
7/25/2019Continuing Claims1688k1676k1686k1689k
7/25/2019Bloomberg Consumer Comfort63.764.7
7/25/2019Kansas City Fed Manf. Activity3-10
7/26/2019Revisions: National Income and Accounts (GDP)
7/26/2019GDP Annualized QoQ1.80%2.10%3.10%
7/26/2019Personal Consumption4.00%4.30%0.90%1.10%
7/26/2019GDP Price Index2.00%2.40%0.90%1.10%
7/26/2019Core PCE QoQ2.00%1.80%1.20%1.10%

 

 

 

 

 

 

 

 

 

 

 

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