Treasuries are flat to slightly lower following a strong Non-Farm Payroll report on Friday (313k actual vs 205k expected). Expect heavy supply today as the US treasury plans on auctioning ~$28bln and ~$21bln of 3s and 10s, respectively. In equities, risk appetite has come back with the S&P posting a 47 point gain Friday and futures currently up 10 points.  The market will be paying attention to the monthly budget statement later today, with street consensus at -$216bln deficit expected vs -192bln actual last month.

Eric Kruglak
Senior Associate, Investment Management Group

Date TimeEventSurveyActual
03/12/2018Monthly Budget StatementFeb-$216.0b
03/13/2018NFIB Small Business OptimismFeb107.1
03/13/2018CPI MoMFeb0.20%
03/13/2018CPI Ex Food and Energy MoMFeb0.20%
03/13/2018CPI YoYFeb2.20%
03/13/2018CPI Ex Food and Energy YoYFeb1.80%
03/13/2018CPI Index NSAFeb248.936
03/13/2018CPI Core Index SAFeb255.8
03/13/2018Real Avg Weekly Earnings YoYFeb
03/13/2018Real Avg Hourly Earning YoYFeb
03/14/2018MBA Mortgage Applications9-Mar
03/14/2018Retail Sales Advance MoMFeb0.30%
03/14/2018Retail Sales Ex Auto MoMFeb0.40%
03/14/2018Retail Sales Ex Auto and GasFeb0.30%
03/14/2018Retail Sales Control GroupFeb0.40%
03/14/2018PPI Final Demand MoMFeb0.10%
03/14/2018PPI Ex Food and Energy MoMFeb0.20%
03/14/2018PPI Ex Food, Energy, Trade MoMFeb0.20%
03/14/2018PPI Final Demand YoYFeb2.80%
03/14/2018PPI Ex Food and Energy YoYFeb2.60%
03/14/2018PPI Ex Food, Energy, Trade YoYFeb
03/14/2018Business InventoriesJan0.60%
03/15/2018Empire ManufacturingMar15
03/15/2018Import Price Index MoMFeb0.20%
03/15/2018Import Price Index ex Petroleum MoMFeb0.30%
03/15/2018Import Price Index YoYFeb3.50%
03/15/2018Export Price Index MoMFeb0.20%
03/15/2018Export Price Index YoYFeb
03/15/2018Initial Jobless Claims10-Mar227k
03/15/2018Continuing Claims3-Mar1905k
03/15/2018Philadelphia Fed Business OutlookMar23
03/15/2018Bloomberg Consumer Comfort11-Mar
03/15/2018Bloomberg Feb. United States Economic Survey
03/15/2018NAHB Housing Market IndexMar71
03/15/2018Total Net TIC FlowsJan
03/15/2018Net Long-term TIC FlowsJan
03/16/2018Housing StartsFeb1290k
03/16/2018Housing Starts MoMFeb-2.70%
03/16/2018Building PermitsFeb1320k
03/16/2018Building Permits MoMFeb-4.10%
03/16/2018Industrial Production MoMFeb0.40%
03/16/2018Manufacturing (SIC) ProductionFeb0.50%
03/16/2018Capacity UtilizationFeb77.70%
03/16/2018JOLTS Job OpeningsJan5950
03/16/2018Revisions: JOLTS
03/16/2018U. of Mich. SentimentMar P99
03/16/2018U. of Mich. Current ConditionsMar P
03/16/2018U. of Mich. ExpectationsMar P
03/16/2018U. of Mich. 1 Yr InflationMar P
03/16/2018U. of Mich. 5-10 Yr InflationMar P