October 17, 2019 Headlines

Treasuries were somewhat volatile overnight, and prices are now lower versus yesterday’s close on news that EU and UK negotiators have agreed on a draft Brexit deal. S&P 500 futures are up 0.27%. The reaction in risk markets is more subdued thus far because 1) the deal still must get approved by Britain’s parliament, which has rejected three previous deals, and 2) sensitivity remains highest to US/China negotiations. Regarding the latter, Treasury Secretary Mnuchin said yesterday that officials from both sides are working on text for a Phase 1 trade deal that each would sign next month. Six different Fed leaders will be speaking over the next two days, including New York Fed President John Williams later this afternoon.

Jason Haley
Managing Director, Investment Management Group

10/14/2019Empire Manufacturing142
10/16/2019MBA Mortgage Applications0.50%5.20%
10/16/2019Retail Sales Advance MoM0.30%-0.30%0.40%0.60%
10/16/2019Retail Sales Ex Auto MoM0.20%-0.10%0.00%0.20%
10/16/2019Retail Sales Ex Auto and Gas0.30%0.00%0.10%0.40%
10/16/2019Retail Sales Control Group0.30%0.00%0.30%
10/16/2019NAHB Housing Market Index687168
10/16/2019Business Inventories0.20%0.00%0.40%0.30%
10/16/2019U.S. Federal Reserve Releases Beige Book
10/16/2019Net Long-term TIC Flows-$41.1b$84.3b$83.8b
10/16/2019Total Net TIC Flows$70.5b$43.8b$43.3b
10/17/2019Housing Starts1320k1256k1364k1386k
10/17/2019Building Permits1350k1387k1419k1425k
10/17/2019Housing Starts MoM-3.20%-9.40%12.30%15.10%
10/17/2019Building Permits MoM-5.30%-2.70%7.70%8.20%
10/17/2019Philadelphia Fed Business Outlook7.65.612
10/17/2019Initial Jobless Claims215k214k210k
10/17/2019Continuing Claims1675k1679k1684k1689k
10/17/2019Industrial Production MoM-0.20%0.60%
10/17/2019Manufacturing (SIC) Production-0.30%0.50%
10/17/2019Capacity Utilization77.70%77.90%
10/17/2019Bloomberg Consumer Comfort62.7
10/17/2019Bloomberg Economic Expectations49.5
10/17/2019Monthly Budget Statement$83.0b$119.1b
10/18/2019Leading Index0.00%0.00%













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