March 17, 2021 Headlines
The Treasury curve is higher and steeper this morning ahead of today’s FOMC meeting. The spread between the 2-year and 10-year parts of the curve is roughly 5 bps wider, its widest level since the summer of 2015. Investors are waiting to see how the participants’ forecast of the fed funds rate shakes out given the recent moves in the bond market.
Hafizan Hamzah
Director, Investment Management Group
Date | Event | Surv(M) | Actual | Prior | Revised |
03/15/21 | Empire Manufacturing | 15 | 17.4 | 12.1 | — |
03/15/21 | Total Net TIC Flows | — | $106.3b | -$0.6b | $8.0b |
03/15/21 | Net Long-term TIC Flows | — | $90.8b | $121.0b | — |
03/16/21 | Import Price Index MoM | 1.00% | 1.30% | 1.40% | — |
03/16/21 | Import Price Index ex Petroleum MoM | 0.40% | 0.50% | 0.90% | — |
03/16/21 | Import Price Index YoY | 2.60% | 3.00% | 0.90% | 1.00% |
03/16/21 | Export Price Index MoM | 1.00% | 1.60% | 2.50% | — |
03/16/21 | Export Price Index YoY | 4.40% | 5.20% | 2.30% | — |
03/16/21 | Retail Sales Advance MoM | -0.50% | -3.00% | 5.30% | 7.60% |
03/16/21 | Retail Sales Ex Auto MoM | 0.10% | -2.70% | 5.90% | 8.30% |
03/16/21 | Retail Sales Ex Auto and Gas | -0.50% | -3.30% | 6.10% | 8.50% |
03/16/21 | Retail Sales Control Group | -0.60% | -3.50% | 6.00% | 8.70% |
03/16/21 | Industrial Production MoM | 0.30% | -2.20% | 0.90% | 1.10% |
03/16/21 | Capacity Utilization | 75.50% | 73.80% | 75.60% | 75.50% |
03/16/21 | Manufacturing (SIC) Production | 0.20% | -3.10% | 1.00% | 1.20% |
03/16/21 | Business Inventories | 0.30% | 0.30% | 0.60% | 0.80% |
03/16/21 | NAHB Housing Market Index | 84 | 82 | 84 | — |
03/17/21 | MBA Mortgage Applications | — | -2.20% | -1.30% | — |
03/17/21 | Housing Starts | 1560k | 1421k | 1580k | 1584k |
03/17/21 | Housing Starts MoM | -1.30% | -10.30% | -6.00% | -5.10% |
03/17/21 | Building Permits | 1750k | 1682k | 1881k | 1886k |
03/17/21 | Building Permits MoM | -7.20% | -10.80% | 10.40% | 10.70% |
03/17/21 | FOMC Rate Decision (Lower Bound) | 0.00% | — | 0.00% | — |
03/17/21 | FOMC Rate Decision (Upper Bound) | 0.25% | — | 0.25% | — |
03/17/21 | Interest Rate on Excess Reserves | 0.10% | — | 0.10% | — |
03/18/21 | Initial Jobless Claims | 700k | — | 712k | — |
03/18/21 | Continuing Claims | 4034k | — | 4144k | — |
03/18/21 | Philadelphia Fed Business Outlook | 23 | — | 23.1 | — |
03/18/21 | Langer Consumer Comfort | — | — | 49.4 | — |
03/18/21 | Leading Index | 0.30% | — | 0.50% | — |
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