A forced hedge fund liquidation is weighing on risk markets today and sending Treasury yields lower and flatter this morning. Nomura and Credit Suisse both say they face “significant” losses from their prime brokerage businesses after the failure of Archegos Capital Management, which has sparked the forced liquidation of more than $20 billion of securities. President Biden is expected to unveil plans for a $3 trillion infrastructure bill this week, beginning with an appearance in Pittsburgh on Wednesday. Democrats are expressing confidence that the bill can be passed without Republican support, and plan is expected to include tax increases on corporations and individuals earning more than $400,000 annually. This week’s economic calendar is headlined by the March jobs report on Friday.
Jason Haley
Chief Investment Officer
Date | Event | Survey | Actual | Prior | Revised |
3/29/2021 | Dallas Fed Manf. Activity | 16.8 | — | 17.2 | — |
3/30/2021 | FHFA House Price Index MoM | 1.20% | — | 1.10% | — |
3/30/2021 | S&P CoreLogic CS 20-City MoM SA | 1.20% | — | 1.25% | — |
3/30/2021 | S&P CoreLogic CS 20-City YoY NSA | 11.25% | — | 10.10% | — |
3/30/2021 | S&P CoreLogic CS US HPI YoY NSA | 10.50% | — | 10.37% | — |
3/30/2021 | Conf. Board Consumer Confidence | 96.7 | — | 91.3 | — |
3/30/2021 | Conf. Board Present Situation | — | — | 92 | — |
3/30/2021 | Conf. Board Expectations | — | — | 90.8 | — |
3/31/2021 | MBA Mortgage Applications | — | — | -2.50% | — |
3/31/2021 | ADP Employment Change | 555k | — | 117k | — |
3/31/2021 | MNI Chicago PMI | 61 | — | 59.5 | — |
3/31/2021 | Pending Home Sales MoM | -3.00% | — | -2.80% | — |
3/31/2021 | Pending Home Sales NSA YoY | 6.50% | — | 8.20% | — |
4/1/2021 | Challenger Job Cuts YoY | — | — | -39.10% | — |
4/1/2021 | Revisions: Initial and Continued Claims | ||||
4/1/2021 | Initial Jobless Claims | 680k | — | 684k | — |
4/1/2021 | Continuing Claims | 3750k | — | 3870k | — |
4/1/2021 | Langer Consumer Comfort | — | — | 49.1 | — |
4/1/2021 | Markit US Manufacturing PMI | 59.1 | — | 59 | — |
4/1/2021 | Construction Spending MoM | -1.00% | — | 1.70% | — |
4/1/2021 | ISM Manufacturing | 61.4 | — | 60.8 | — |
4/1/2021 | ISM Prices Paid | 82 | — | 86 | — |
4/1/2021 | ISM New Orders | — | — | 64.8 | — |
4/1/2021 | ISM Employment | — | — | 54.4 | — |
4/1/2021 | Wards Total Vehicle Sales | 16.40m | — | 15.67m | — |
4/2/2021 | Change in Nonfarm Payrolls | 650k | — | 379k | — |
4/2/2021 | Two-Month Payroll Net Revision | — | — | 38k | — |
4/2/2021 | Change in Private Payrolls | 657k | — | 465k | — |
4/2/2021 | Change in Manufact. Payrolls | 36k | — | 21k | — |
4/2/2021 | Unemployment Rate | 6.00% | — | 6.20% | — |
4/2/2021 | Average Hourly Earnings MoM | 0.10% | — | 0.20% | — |
4/2/2021 | Average Hourly Earnings YoY | 4.50% | — | 5.30% | — |
4/2/2021 | Average Weekly Hours All Employees | 34.7 | — | 34.6 | — |
4/2/2021 | Labor Force Participation Rate | 61.50% | — | 61.40% | — |
4/2/2021 | Underemployment Rate | — | — | 11.10% | — |
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