October 23, 2019 Headlines

The US Treasury curve bull steepened overnight as Brexit uncertainty continues to drive the risk-off sentiment. British Prime Minister Boris Johnson’s Brexit deal was endorsed for the first time but in a vote minutes later, rejected the plan to rush his deal through Parliament. Johnson has repeated his intention to pull the UK out of the EU by the October 31st deadline. The second vote allows lawmakers more time to scrutinize and add potential amendments which could attach conditions to the deal. European Union Leaders are expected to meet as soon as Friday to decide on the UK’s request for a Brexit extension to January.

Chris Eckhoff
Associate, Investment Management Group

Date Event Survey Actual Prior Revised
10/22/2019 Richmond Fed Manufact. Index -7 8 -9
10/22/2019 Existing Home Sales 5.45m 5.38m 5.49m 5.50m
10/22/2019 Existing Home Sales MoM -0.70% -2.20% 1.30% 1.50%
10/23/2019 MBA Mortgage Applications -11.90% 0.50%
10/23/2019 FHFA House Price Index MoM 0.30% 0.20% 0.40%
10/24/2019 Durable Goods Orders -0.70% 0.20%
10/24/2019 Durables Ex Transportation -0.20% 0.50%
10/24/2019 Cap Goods Orders Nondef Ex Air -0.10% -0.40%
10/24/2019 Cap Goods Ship Nondef Ex Air -0.20% 0.30%
10/24/2019 Initial Jobless Claims 215k 214k
10/24/2019 Continuing Claims 1678k 1679k
10/24/2019 Bloomberg Consumer Comfort 63.5
10/24/2019 Markit US Manufacturing PMI 50.9 51.1
10/24/2019 Markit US Services PMI 51 50.9
10/24/2019 Markit US Composite PMI 51
10/24/2019 New Home Sales 702k 713k
10/24/2019 New Home Sales MoM -1.60% 7.10%
10/24/2019 Kansas City Fed Manf. Activity -3 -2
10/24/2019 – 10/25/2019 Monthly Budget Statement $83.0b $119.1b
10/25/2019 U. of Mich. Sentiment 96 96
10/25/2019 U. of Mich. Current Conditions 113.4
10/25/2019 U. of Mich. Expectations 84.8
10/25/2019 U. of Mich. 1 Yr Inflation 2.50%
10/25/2019 U. of Mich. 5-10 Yr Inflation 2.20%

















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