In Asia, US Treasury yields pushed higher, lead by the belly of the curve, as the 5 year almost touched 3%. However, by the London open, Treasuries were unchanged. Equities are opening higher with the S&P 500 currently up +.79% and the NASDAQ +1.01%. This morning, the market is focused on the CPI reading which came in as expected at .3% MoM and MBA mortgage applications which declined 3.2% compared to -0.7% prior.

Chris Eckhoff
Associate, Investment Management Group

 

Date Event Survey Actual Prior
11/13 NFIB Small Business Optimism 108 107.4 107.9
11/13 Monthly Budget Statement -$100.0b -$100.5b -$63.2b
11/14 MBA Mortgage Applications -3.20% -0.70%
11/14 CPI MoM 0.30% 0.30% 0.10%
11/14 CPI Ex Food and Energy MoM 0.20% 0.20% 0.10%
11/14 CPI YoY 2.50% 2.50% 2.30%
11/14 CPI Ex Food and Energy YoY 2.20% 2.10% 2.20%
11/14 CPI Index NSA 252.828 252.885 252.439
11/14 CPI Core Index SA 258.947 258.939 258.441
11/14 Real Avg Weekly Earnings YoY 0.90% 1.10%
11/14 Real Avg Hourly Earning YoY 0.70% 0.50%
11/15 Empire Manufacturing 20 21.1
11/15 Philadelphia Fed Business Outlook 20 22.2
11/15 Retail Sales Advance MoM 0.50% 0.10%
11/15 Retail Sales Ex Auto MoM 0.50% -0.10%
11/15 Retail Sales Ex Auto and Gas 0.40% 0.00%
11/15 Retail Sales Control Group 0.40% 0.50%
11/15 Import Price Index MoM 0.10% 0.50%
11/15 Import Price Index ex Petroleum MoM 0.00% 0.00%
11/15 Import Price Index YoY 3.30% 3.50%
11/15 Export Price Index MoM 0.10% 0.00%
11/15 Export Price Index YoY 2.70%
11/15 Initial Jobless Claims 213k 214k
11/15 Continuing Claims 1625k 1623k
11/15 Bloomberg Consumer Comfort 61.3
11/15 Business Inventories 0.30% 0.50%
11/16 Industrial Production MoM 0.20% 0.30%
11/16 Capacity Utilization 78.20% 78.10%
11/16 Manufacturing (SIC) Production 0.20% 0.20%
11/16 Kansas City Fed Manf. Activity 11 8
11/16 Total Net TIC Flows $108.2b
11/16 Net Long-term TIC Flows $131.8b