Treasuries sold off overnight with a flattening bias; the long end of the curve is up 4 bps while the front end is only up 2 bps, on the back of a rally in global equity markets. Additionally, the view that John Taylor and Kevin Warsh are the frontrunners for the Fed Chair position as both are considered to be hawks and would mark a significant change in Fed leadership. Indications have been that President Trump is planning to announce his pick prior to his November Asia trip.
Hafizan Hamzah
Director, Investment Management Group
| Date | Event | Surv(M) | Actual | Prior |
| 10/16 | Empire Manufacturing | 20.4 | 30.2 | 24.4 |
| 10/17 | Import Price Index MoM | 0.60% | 0.70% | 0.60% |
| 10/17 | Import Price Index ex Petroleum MoM | 0.20% | 0.30% | 0.30% |
| 10/17 | Import Price Index YoY | 2.60% | 2.70% | 2.10% |
| 10/17 | Export Price Index MoM | 0.50% | 0.80% | 0.60% |
| 10/17 | Export Price Index YoY | — | 2.90% | 2.30% |
| 10/17 | Industrial Production MoM | 0.30% | 0.30% | -0.90% |
| 10/17 | Capacity Utilization | 76.20% | 76.00% | 76.10% |
| 10/17 | Manufacturing (SIC) Production | 0.20% | 0.10% | -0.30% |
| 10/17 | NAHB Housing Market Index | 64 | 68 | 64 |
| 10/17 | Total Net TIC Flows | — | $125.0b | -$7.3b |
| 10/17 | Net Long-term TIC Flows | — | $67.2b | $1.3b |
| 10/18 | MBA Mortgage Applications | — | 3.60% | -2.10% |
| 10/18 | Housing Starts | 1175k | 1127k | 1180k |
| 10/18 | Housing Starts MoM | -0.40% | -4.70% | -0.80% |
| 10/18 | Building Permits | 1245k | 1215k | 1300k |
| 10/18 | Building Permits MoM | -2.10% | -4.50% | 5.70% |
| 10/18 | U.S. Federal Reserve Releases Beige Book | |||
| 10/18-10/20 | Monthly Budget Statement | $6.0b | — | $33.4b |
| 10/19 | Initial Jobless Claims | 240k | — | 243k |
| 10/19 | Continuing Claims | 1890k | — | 1889k |
| 10/19 | Philadelphia Fed Business Outlook | 22 | — | 23.8 |
| 10/19 | Bloomberg Consumer Comfort | — | — | 49.5 |
| 10/19 | Bloomberg Economic Expectations | — | — | 51.5 |
| 10/19 | Leading Index | 0.10% | — | 0.40% |
| 10/20 | Existing Home Sales | 5.30m | — | 5.35m |
| 10/20 | Existing Home Sales MoM | -0.90% | — | -1.70% |