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

10/22/2019Richmond Fed Manufact. Index-78-9
10/22/2019Existing Home Sales5.45m5.38m5.49m5.50m
10/22/2019Existing Home Sales MoM-0.70%-2.20%1.30%1.50%
10/23/2019MBA Mortgage Applications-11.90%0.50%
10/23/2019FHFA House Price Index MoM0.30%0.20%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%
10/24/2019Cap Goods Ship Nondef Ex Air-0.20%0.30%
10/24/2019Initial Jobless Claims215k214k
10/24/2019Continuing Claims1678k1679k
10/24/2019Bloomberg Consumer Comfort63.5
10/24/2019Markit US Manufacturing PMI50.951.1
10/24/2019Markit US Services PMI5150.9
10/24/2019Markit US Composite PMI51
10/24/2019New Home Sales702k713k
10/24/2019New Home Sales MoM-1.60%7.10%
10/24/2019Kansas City Fed Manf. Activity-3-2
10/24/2019 – 10/25/2019Monthly Budget Statement$83.0b$119.1b
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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