July 9, 2019 Headlines

Treasury prices are slightly lower this morning following an increase in supply of European sovereign debt. Overnight trading was fairly muted as there was little in the way of data or news coming out of Europe or Asia. US equity markets are pointing to a lower open this morning as the market waits on more clarity regarding US monetary policy. Fed Chairman Powell is scheduled to appear before the House Financial Services Committee tomorrow and investors are curious to see if he will elucidate the central bank’s plan for any further easing. Even after last week’s job report, the market is pricing in a 100% chance of a cut in July but a stronger than expected change in non-farm payrolls had put a damper on more aggressive easing.

Hafizan Hamzah
Director, Investment Management Group

7/8/2019Consumer Credit$17.000b$17.086b$17.497b$17.457b
7/9/2019NFIB Small Business Optimism103.1103.3105
7/9/2019JOLTS Job Openings74707449
7/10/2019MBA Mortgage Applications-0.10%
7/10/2019Wholesale Trade Sales MoM0.30%-0.40%
7/10/2019Wholesale Inventories MoM0.40%0.40%
7/10/2019FOMC Meeting Minutes
7/11/2019CPI MoM0.00%0.10%
7/11/2019CPI Ex Food and Energy MoM0.20%0.10%
7/11/2019CPI YoY1.60%1.80%
7/11/2019CPI Ex Food and Energy YoY2.00%2.00%
7/11/2019CPI Core Index SA262.564262.032
7/11/2019Initial Jobless Claims221k221k
7/11/2019CPI Index NSA256.093256.092
7/11/2019Continuing Claims1683k1686k
7/11/2019Real Avg Hourly Earning YoY1.30%
7/11/2019Real Avg Weekly Earnings YoY1.00%
7/11/2019Bloomberg Consumer Comfort62.6
7/11/2019Monthly Budget Statement-$7.7b-$207.8b
7/12/2019PPI Final Demand MoM0.00%0.10%
7/12/2019PPI Ex Food and Energy MoM0.20%0.20%
7/12/2019PPI Ex Food, Energy, Trade MoM0.20%0.40%
7/12/2019PPI Final Demand YoY1.60%1.80%
7/12/2019PPI Ex Food and Energy YoY2.10%2.30%
7/12/2019PPI Ex Food, Energy, Trade YoY2.30%
7/12/2019Bloomberg July United States Economic Survey















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