US Treasury prices are lower this morning as heavy European issuance weighed on yields and investors assessed the results of last night’s Brexit plan. Prime Minister May’s Brexit deal was rejected for the second time, although by a smaller margin. Later today, lawmakers are expected to vote on whether to leave the European Union with no agreement, or delay Brexit in hopes of more favorable terms.

In the US, the New York calendar is expected to release PPI, Durable Goods, and Construction Spending. Additionally, there will be no more Fed speakers since we have entered the blackout period before the March 20th meeting.

Chris Eckhoff
Associate, Investment Management Group
03/11/19Retail Sales Advance MoM0.00%0.20%-1.20%-1.60%
03/11/19Retail Sales Ex Auto MoM0.30%0.90%-1.80%-2.10%
03/11/19Retail Sales Ex Auto and Gas0.60%1.20%-1.40%-1.60%
03/11/19Retail Sales Control Group0.60%1.10%-1.70%-2.30%
03/11/19Business Inventories0.60%0.60%-0.10%0.00%
03/12/19NFIB Small Business Optimism102.5101.7101.2
03/12/19CPI MoM0.20%0.20%0.00%
03/12/19CPI Ex Food and Energy MoM0.20%0.10%0.20%
03/12/19CPI YoY1.60%1.50%1.60%
03/12/19CPI Ex Food and Energy YoY2.20%2.10%2.20%
03/12/19CPI Core Index SA261.193260.989260.701
03/12/19CPI Index NSA252.866252.776251.712
03/12/19Real Avg Weekly Earnings YoY1.60%1.90%
03/12/19Real Avg Hourly Earning YoY1.90%1.70%1.60%
03/13/19MBA Mortgage Applications2.30%-2.50%
03/13/19PPI Final Demand MoM0.20%0.10%-0.10%
03/13/19PPI Ex Food and Energy MoM0.20%0.10%0.30%
03/13/19PPI Ex Food, Energy, Trade MoM0.20%0.10%0.20%
03/13/19PPI Final Demand YoY1.90%1.90%2.00%
03/13/19PPI Ex Food and Energy YoY2.60%2.50%2.60%
03/13/19PPI Ex Food, Energy, Trade YoY2.30%2.50%
03/13/19Durable Goods Orders-0.40%0.40%1.20%1.30%
03/13/19Durables Ex Transportation0.10%-0.10%0.10%0.30%
03/13/19Cap Goods Orders Nondef Ex Air0.20%0.80%-1.00%-0.90%
03/13/19Cap Goods Ship Nondef Ex Air-0.20%0.80%0.00%0.10%
03/13/19Construction Spending MoM0.50%-0.60%
03/14/19Import Price Index MoM0.30%-0.50%
03/14/19Import Price Index ex Petroleum MoM-0.10%-0.70%
03/14/19Import Price Index YoY-1.50%-1.70%
03/14/19Export Price Index MoM0.10%-0.60%
03/14/19Export Price Index YoY-0.20%
03/14/19Initial Jobless Claims225k223k
03/14/19Continuing Claims1763k1755k
03/14/19Bloomberg March United States Economic Survey
03/14/19Bloomberg Consumer Comfort62.1
03/14/19New Home Sales MoM0.20%3.70%
03/14/19New Home Sales622k621k
03/15/19Empire Manufacturing108.8
03/15/19Industrial Production MoM0.40%-0.60%
03/15/19Capacity Utilization78.50%78.20%
03/15/19Manufacturing (SIC) Production0.10%-0.90%
03/15/19JOLTS Job Openings72257335
03/15/19U. of Mich. Sentiment95.793.8
03/15/19U. of Mich. Current Conditions112108.5
03/15/19U. of Mich. Expectations88.184.4
03/15/19U. of Mich. 1 Yr Inflation2.60%
03/15/19U. of Mich. 5-10 Yr Inflation2.30%
03/15/19Net Long-term TIC Flows-$48.3b
03/15/19Total Net TIC Flows-$33.1b