Treasury prices rallied modestly overnight amid concerns of political instability in Spain. European markets are mixed, with the FTSE 100 edging higher and the IBEX 35 significantly lower (-.98%) as investors are hoping that the Spain/Catalonia situation calms down. Asian equity markets overall are up as well, most notably the Nikkei +.64% on the day.
In other news, Turkey and the US have blocked tourist and business travel between each other as tensions continue to rise over Turkey’s arrest of Metin Topuz at the US Consulate in Istanbul. US market response has been muted, unlike in Turkey where the Lira weakened over 2% on Monday.
In addition, the Trump Administration will formally withdraw from the Obama-era Clean Power Plan today. This coupled with the Administration’s supposed plan to decertify the Iranian nuclear deal has markets watching closely.
Eric Kruglak
Senior Associate, Investment Management Group
| Date | Event | Survey | Actual | Prior | Revised |
| 10/10/2017 | NFIB Small Business Optimism | 105 | 103 | 105.3 | — |
| 10/11/2017 | MBA Mortgage Applications | — | — | -0.40% | — |
| 10/11/2017 | JOLTS Job Openings | 6143 | — | 6170 | — |
| 10/11/2017 | FOMC Meeting Minutes | — | — | — | — |
| 10/12/2017 | PPI Final Demand MoM | 0.40% | — | 0.20% | — |
| 10/12/2017 | PPI Ex Food and Energy MoM | 0.20% | — | 0.10% | — |
| 10/12/2017 | PPI Ex Food, Energy, Trade MoM | 0.20% | — | 0.20% | — |
| 10/12/2017 | PPI Final Demand YoY | 2.60% | — | 2.40% | — |
| 10/12/2017 | PPI Ex Food and Energy YoY | 2.00% | — | 2.00% | — |
| 10/12/2017 | PPI Ex Food, Energy, Trade YoY | — | — | 1.90% | — |
| 10/12/2017 | Initial Jobless Claims | 250k | — | 260k | — |
| 10/12/2017 | Continuing Claims | 1930k | — | 1938k | — |
| 10/12/2017 | Bloomberg Consumer Comfort | — | — | 49.9 | — |
| 10/12/2017 | Monthly Budget Statement | $10.0b | — | -$107.7b | — |
| 10/13/2017 | CPI MoM | 0.60% | — | 0.40% | — |
| 10/13/2017 | CPI Ex Food and Energy MoM | 0.20% | — | 0.20% | — |
| 10/13/2017 | CPI YoY | 2.30% | — | 1.90% | — |
| 10/13/2017 | CPI Ex Food and Energy YoY | 1.80% | — | 1.70% | — |
| 10/13/2017 | CPI Core Index SA | 253.017 | — | 252.54 | — |
| 10/13/2017 | CPI Index NSA | 246.933 | — | 245.519 | — |
| 10/13/2017 | Real Avg Weekly Earnings YoY | — | — | 0.90% | 1.00% |
| 10/13/2017 | Retail Sales Advance MoM | 1.60% | — | -0.20% | — |
| 10/13/2017 | Real Avg Hourly Earning YoY | — | — | 0.60% | 0.70% |
| 10/13/2017 | Retail Sales Ex Auto MoM | 0.90% | — | 0.20% | — |
| 10/13/2017 | Retail Sales Ex Auto and Gas | 0.40% | — | -0.10% | — |
| 10/13/2017 | Retail Sales Control Group | 0.40% | — | -0.20% | — |
| 10/13/2017 | U. of Mich. Sentiment | 95 | — | 95.1 | — |
| 10/13/2017 | U. of Mich. Current Conditions | 111 | — | 111.7 | — |
| 10/13/2017 | U. of Mich. Expectations | 85 | — | 84.4 | — |
| 10/13/2017 | U. of Mich. 1 Yr Inflation | — | — | 2.70% | — |
| 10/13/2017 | U. of Mich. 5-10 Yr Inflation | — | — | 2.50% | — |
| 10/13/2017 | Business Inventories | 0.70% | — | 0.20% | — |
| 10/16/2017 | Empire Manufacturing | 20.4 | — | 24.4 | — |
| 10/17/2017 | Import Price Index MoM | 0.40% | — | 0.60% | — |
| 10/17/2017 | Import Price Index ex Petroleum MoM | 0.10% | — | 0.30% | — |
| 10/17/2017 | Import Price Index YoY | — | — | 2.10% | — |
| 10/17/2017 | Export Price Index MoM | 0.30% | — | 0.60% | — |
| 10/17/2017 | Export Price Index YoY | — | — | 2.30% | — |
| 10/17/2017 | Industrial Production MoM | 0.10% | — | -0.90% | — |
| 10/17/2017 | Capacity Utilization | 76.20% | — | 76.10% | — |
| 10/17/2017 | Manufacturing (SIC) Production | — | — | -0.30% | — |
| 10/17/2017 | NAHB Housing Market Index | 64 | — | 64 | — |
| 10/17/2017 | Total Net TIC Flows | — | — | -$7.3b | — |
| 10/17/2017 | Net Long-term TIC Flows | — | — | $1.3b | — |