March 5, 2021 Headlines
Rates are higher across the curve on the back of a better than expected jobs report. The 10-year Treasury is up 5 bps as non-farm payrolls increased by 379,000 (179,000 better than expected) last month. Private payrolls saw a strong increase of 465,000 boosted by the hard hit leisure and hospitality sector which saw 355,000 jobs added last month. The unemployment rate declined slightly to 6.2% from 6.3% and the participation rate remained unchanged at 61.4%. This was a solid jobs report that paints the picture of a recovering economy.
Hafizan Hamzah
Director, Investment Management Group
Date | Event | Surv(M) | Actual | Prior | Revised |
03/01/21 | Markit US Manufacturing PMI | 58.5 | 58.6 | 58.5 | — |
03/01/21 | Construction Spending MoM | 0.80% | 1.70% | 1.00% | 1.10% |
03/01/21 | ISM Manufacturing | 58.9 | 60.8 | 58.7 | — |
03/01/21 | ISM Prices Paid | 80 | 86 | 82.1 | — |
03/01/21 | ISM New Orders | 60 | 64.8 | 61.1 | — |
03/01/21 | ISM Employment | — | 54.4 | 52.6 | — |
03/02/21 | Wards Total Vehicle Sales | 16.00m | 15.67m | 16.63m | — |
03/03/21 | MBA Mortgage Applications | — | 0.50% | -11.40% | — |
03/03/21 | ADP Employment Change | 205k | 117k | 174k | 195k |
03/03/21 | Markit US Services PMI | 58.9 | 59.8 | 58.9 | — |
03/03/21 | Markit US Composite PMI | — | 59.5 | 58.8 | — |
03/03/21 | ISM Services Index | 58.7 | 55.3 | 58.7 | — |
03/03/21 | U.S. Federal Reserve Releases Beige Book | ||||
03/04/21 | Challenger Job Cuts YoY | — | -39.10% | 17.40% | — |
03/04/21 | Nonfarm Productivity | -4.70% | -4.20% | -4.80% | — |
03/04/21 | Unit Labor Costs | 6.60% | 6.00% | 6.80% | — |
03/04/21 | Initial Jobless Claims | 750k | 745k | 730k | 736k |
03/04/21 | Continuing Claims | 4300k | 4295k | 4419k | — |
03/04/21 | Langer Consumer Comfort | — | 48.9 | 47.3 | — |
03/04/21 | Factory Orders | 2.10% | 2.60% | 1.10% | 1.60% |
03/04/21 | Factory Orders Ex Trans | — | 1.70% | 1.40% | 1.90% |
03/04/21 | Durable Goods Orders | 3.40% | 3.40% | 3.40% | — |
03/04/21 | Durables Ex Transportation | 1.40% | 1.30% | 1.40% | — |
03/04/21 | Cap Goods Orders Nondef Ex Air | 0.50% | 0.40% | 0.50% | — |
03/04/21 | Cap Goods Ship Nondef Ex Air | — | 1.80% | 2.10% | — |
03/05/21 | Two-Month Payroll Net Revision | — | 38k | — | — |
03/05/21 | Change in Nonfarm Payrolls | 200k | 379k | 49k | 166k |
03/05/21 | Change in Private Payrolls | 200k | 465k | 6k | — |
03/05/21 | Change in Manufact. Payrolls | 15k | 21k | -10k | -14k |
03/05/21 | Unemployment Rate | 6.30% | 6.20% | 6.30% | — |
03/05/21 | Average Hourly Earnings MoM | 0.20% | 0.20% | 0.20% | 0.10% |
03/05/21 | Average Hourly Earnings YoY | 5.30% | 5.30% | 5.40% | 5.30% |
03/05/21 | Average Weekly Hours All Employees | 34.9 | 34.6 | 35 | 34.9 |
03/05/21 | Labor Force Participation Rate | 61.40% | 61.40% | 61.40% | — |
03/05/21 | Underemployment Rate | — | 11.10% | 11.10% | — |
03/05/21 | Trade Balance | -$67.5b | -$68.2b | -$66.6b | -$67.0b |
03/05/21 | Bloomberg March United States Economic Survey | ||||
03/05/21 | Consumer Credit | $12.000b | — | $9.734b | — |
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