Treasury prices edged slightly higher this morning and S&P 500 futures are currently down 11 points (-0.4%). Overseas, Chinese stocks hit a four-year low intraday before rebounding to close +.6% on the session. TIC data last night also showed major Asian holdings moderately decline for the third straight month. On the economic calendar for today, markets will be focused on Housing Starts and Building permits as well as FOMC meeting minutes. The focus of the minutes will be on the removal of the word “accommodative” and policy outlook around the neutral rate.

Chris Eckhoff
Associate, Investment Management Group


10/15Empire Manufacturing2021.119
10/15Retail Sales Advance MoM0.60%0.10%0.10%
10/15Retail Sales Ex Auto MoM0.40%-0.10%0.30%
10/15Retail Sales Ex Auto and Gas0.30%0.00%0.20%
10/15Retail Sales Control Group0.40%0.50%0.10%
10/15Business Inventories0.50%0.50%0.60%
10/15Monthly Budget Statement$83.0b$119.1b$7.9b
10/16Industrial Production MoM0.20%0.30%0.40%
10/16Capacity Utilization78.20%78.10%78.10%
10/16Manufacturing (SIC) Production0.20%0.20%0.20%
10/16NAHB Housing Market Index666867
10/16JOLTS Job Openings690071366939
10/16Total Net TIC Flows$60.3b$108.2b$52.2b
10/16Net Long-term TIC Flows$131.8b$74.8b
10/17MBA Mortgage Applications-7.10%-1.70%
10/17Housing Starts1210k1201k1282k
10/17Housing Starts MoM-5.60%-5.30%9.20%
10/17Building Permits1275k1241k1229k
10/17Building Permits MoM2.00%-0.60%-5.70%
10/17FOMC Meeting Minutes
10/18Philadelphia Fed Business Outlook2022.9
10/18Initial Jobless Claims211k214k
10/18Continuing Claims1665k1660k
10/18Bloomberg Economic Expectations57.5
10/18Bloomberg Consumer Comfort59.5
10/18Leading Index0.50%0.40%
10/19Existing Home Sales5.29m5.34m
10/19Existing Home Sales MoM-0.90%0.00%