May 7, 2019 Headlines

Treasury prices were higher overnight on continued U.S./China concerns, but prices reversed and are now lower on the day on reports that Chinese Vice Premier Liu will indeed make the trip to Washington this week. Chinese equities rebounded today following yesterday’s severe slump, but European and U.S. stocks are down more than 50 bps at the moment. While much of the market’s focus is on trade, Germany released soft factory orders data, and the Australian central bank surprised everyone with no rate cut. There are no major economic releases in the U.S. today, but two Fed leaders are speaking at separate events this morning (Kaplan and Quarles).

Jason Haley
Managing Director, Investment Management Group

5/7/2019JOLTS Job Openings73507087
5/7/2019Consumer Credit$16.000b$15.188b
5/8/2019MBA Mortgage Applications-4.30%
5/9/2019PPI Final Demand MoM0.30%0.60%
5/9/2019PPI Ex Food and Energy MoM0.20%0.30%
5/9/2019PPI Ex Food, Energy, Trade MoM0.20%0.00%
5/9/2019PPI Final Demand YoY2.30%2.20%
5/9/2019PPI Ex Food and Energy YoY2.50%2.40%
5/9/2019PPI Ex Food, Energy, Trade YoY2.00%
5/9/2019Trade Balance-$50.2b-$49.4b
5/9/2019Initial Jobless Claims220k230k
5/9/2019Continuing Claims1670k1671k
5/9/2019Bloomberg May United States Economic Survey
5/9/2019Bloomberg Consumer Comfort60.4
5/9/2019Wholesale Trade Sales MoM0.60%0.30%
5/9/2019Wholesale Inventories MoM0.00%0.00%
5/10/2019CPI MoM0.40%0.40%
5/10/2019CPI Ex Food and Energy MoM0.20%0.10%
5/10/2019CPI YoY2.10%1.90%
5/10/2019CPI Ex Food and Energy YoY2.10%2.00%
5/10/2019CPI Core Index SA261.884261.374
5/10/2019CPI Index NSA255.809254.202
5/10/2019Real Avg Hourly Earning YoY1.30%
5/10/2019Real Avg Weekly Earnings YoY1.30%1.40%
5/10/2019Monthly Budget Statement$165.0b$214.3b





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