June 6, 2019 Headlines

The yield curve bull-flattened overnight with the 10-year down 2.5bps to 2.11% and US equity futures are pointing to an unchanged open. Tariffs and trade negotiation continue to dominate the headlines as talks with Mexican officials ended Wednesday without an agreement. If no agreement is reached by Monday, the 5% tariff level will begin. In addition, President Trump provided an update regarding trade negotiations with China, stating progress is being made and a decision on increasing tariffs will come in the next two weeks.

Chris Eckhoff
Associate, Investment Management Group

6/3/2019Markit US Manufacturing PMI50.650.550.6
6/3/2019ISM Manufacturing5352.152.8
6/3/2019ISM Employment53.752.4
6/3/2019ISM Prices Paid5153.250
6/3/2019ISM New Orders52.751.7
6/3/2019Construction Spending MoM0.40%0.00%-0.90%0.10%
6/3/2019Wards Total Vehicle Sales16.90m17.30m16.40m
6/4/2019Factory Orders-1.00%-0.80%1.90%1.30%
6/4/2019Factory Orders Ex Trans0.30%0.80%0.30%
6/4/2019Durable Goods Orders-2.10%-2.10%
6/4/2019Durables Ex Transportation0.00%0.00%
6/4/2019Cap Goods Orders Nondef Ex Air-1.00%-0.90%
6/4/2019Cap Goods Ship Nondef Ex Air0.00%0.00%
6/5/2019MBA Mortgage Applications1.50%-3.30%
6/5/2019ADP Employment Change185k27k275k271k
6/5/2019Markit US Services PMI50.950.950.9
6/5/2019Markit US Composite PMI50.950.9
6/5/2019ISM Non-Manufacturing Index55.456.955.5
6/5/2019U.S. Federal Reserve Releases Beige Book
6/6/2019Challenger Job Cuts YoY85.90%10.90%
6/6/2019Revisions: Trade Balance
6/6/2019Trade Balance-$50.7b-$50.8b-$50.0b-$51.9b
6/6/2019Nonfarm Productivity3.50%3.40%3.60%
6/6/2019Unit Labor Costs-0.90%-1.60%-0.90%
6/6/2019Initial Jobless Claims215k218k215k218k
6/6/2019Continuing Claims1660k1682k1657k1662k
6/6/2019Bloomberg Consumer Comfort60.8
6/6/2019Household Change in Net Worth-$3730b
6/7/2019Change in Nonfarm Payrolls180k263k
6/7/2019Two-Month Payroll Net Revision
6/7/2019Change in Private Payrolls172k236k
6/7/2019Change in Manufact. Payrolls3k4k
6/7/2019Unemployment Rate3.60%3.60%
6/7/2019Average Hourly Earnings MoM0.30%0.20%
6/7/2019Average Hourly Earnings YoY3.20%3.20%
6/7/2019Average Weekly Hours All Employees34.534.4
6/7/2019Labor Force Participation Rate62.80%
6/7/2019Underemployment Rate7.30%
6/7/2019Wholesale Trade Sales MoM-0.20%2.30%
6/7/2019Wholesale Inventories MoM0.70%0.70%
6/7/2019Consumer Credit$13.000b$10.281b
















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