October 21, 2019 Headlines

A positive tone in risk markets to start the week is pushing Treasury yields higher this morning. S&P 500 futures are currently up 0.4%, and all major global equity indices are in positive territory on the day. A top Chinese official said Saturday that “substantial progress” has been made in solidifying a “phase one” trade deal with the United States. The deal is expected to be signed next month, although there are reportedly still several details to work out first. This week’s economic calendar is relatively light, with no events scheduled for today. The pre-FOMC blackout period has commenced, so there will be no Fed speakers until after the October 31 meeting.

Jason Haley
Managing Director, Investment Management Group

10/22/2019Richmond Fed Manufact. Index-7-9
10/22/2019Existing Home Sales5.45m5.49m
10/22/2019Existing Home Sales MoM-0.70%1.30%
10/22/2019Monthly Budget Statement$83.0b$119.1b
10/23/2019MBA Mortgage Applications0.50%
10/23/2019FHFA House Price Index MoM0.30%0.40%
10/24/2019Durable Goods Orders-0.70%0.20%
10/24/2019Durables Ex Transportation-0.20%0.50%
10/24/2019Cap Goods Orders Nondef Ex Air-0.10%-0.40%
10/24/2019Initial Jobless Claims215k214k
10/24/2019Cap Goods Ship Nondef Ex Air-0.20%0.30%
10/24/2019Continuing Claims1675k1679k
10/24/2019Bloomberg Consumer Comfort63.5
10/24/2019Markit US Manufacturing PMI50.851.1
10/24/2019Markit US Services PMI5150.9
10/24/2019Markit US Composite PMI51
10/24/2019New Home Sales701k713k
10/24/2019New Home Sales MoM-1.70%7.10%
10/24/2019Kansas City Fed Manf. Activity-4-2
10/25/2019U. of Mich. Sentiment9696
10/25/2019U. of Mich. Current Conditions113.4
10/25/2019U. of Mich. Expectations84.8
10/25/2019U. of Mich. 1 Yr Inflation2.50%
10/25/2019U. of Mich. 5-10 Yr Inflation2.20%















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