October 1, 2019 Headlines

US Treasuries were weaker overnight as a poor 10-year debt auction in Japan sparked a move sending sovereign yields higher. The Bank of Japan signaled cuts in bond purchases for October and the Government Pension Investment Fund shifted to purchasing more foreign debt in an attempt to steepen the yield curve. The development in Japan materialized despite weak data out of Japan and the Eurozone. For today, Fed President Evans and Vice Chair Clarida are both scheduled to speak in addition to the release of US manufacturing data.

Chris Eckhoff
Associate, Investment Management Group

9/30/2019MNI Chicago PMI5047.150.4
9/30/2019Dallas Fed Manf. Activity11.52.7
10/1/2019Markit US Manufacturing PMI5151.151
10/1/2019ISM Manufacturing5047.849.1
10/1/2019ISM Employment46.347.4
10/1/2019ISM Prices Paid50.549.746
10/1/2019ISM New Orders47.347.2
10/1/2019Construction Spending MoM0.50%0.10%0.10%0.00%
10/1/2019Wards Total Vehicle Sales17.00m16.97m
10/2/2019MBA Mortgage Applications-10.10%
10/2/2019ADP Employment Change140k195k
10/3/2019Challenger Job Cuts YoY39.00%
10/3/2019Initial Jobless Claims215k213k
10/3/2019Continuing Claims1658k1650k
10/3/2019Bloomberg Consumer Comfort61.7
10/3/2019Markit US Services PMI50.950.9
10/3/2019Markit US Composite PMI51
10/3/2019ISM Non-Manufacturing Index55.156.4
10/3/2019Factory Orders-0.20%1.40%
10/3/2019Factory Orders Ex Trans0.30%
10/3/2019Durable Goods Orders0.20%
10/3/2019Durables Ex Transportation0.50%
10/3/2019Cap Goods Orders Nondef Ex Air-0.20%
10/3/2019Cap Goods Ship Nondef Ex Air0.40%
10/4/2019Change in Nonfarm Payrolls147k130k
10/4/2019Two-Month Payroll Net Revision
10/4/2019Change in Private Payrolls130k96k
10/4/2019Change in Manufact. Payrolls3k3k
10/4/2019Unemployment Rate3.70%3.70%
10/4/2019Average Hourly Earnings MoM0.30%0.40%
10/4/2019Average Hourly Earnings YoY3.20%3.20%
10/4/2019Average Weekly Hours All Employees34.434.4
10/4/2019Labor Force Participation Rate63.20%63.20%
10/4/2019Underemployment Rate7.20%
10/4/2019Trade Balance-$54.5b-$54.0b




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