Treasury prices are trading lower this morning in sympathy with European government bonds (particularly German bunds), which are weaker on better PMI data in the region. Eurozone manufacturing PMI was particularly strong, and for the various PMI components, employment metrics rose at the fastest pace in a decade. Inflation metrics were also positive for both the manufacturing and servicing sectors, rising to 6+ year highs. Global equity markets are mostly higher, and S&P 500 futures are currently up 5 points. The 10-year Treasury yield is back above 2.40%, which technical strategists have considered a strong support level in recent weeks.
Jason Haley
Managing Director, Investment Management Group
| Date | Event | Surv(M) | Actual | Prior |
| 10/23 | Chicago Fed Nat Activity Index | -0.13 | 0.17 | -0.31 |
| 10/24 | Markit US Manufacturing PMI | 53.4 | — | 53.1 |
| 10/24 | Markit US Services PMI | 55.2 | — | 55.3 |
| 10/24 | Markit US Composite PMI | — | — | 54.8 |
| 10/24 | Richmond Fed Manufact. Index | 17 | — | 19 |
| 10/25 | MBA Mortgage Applications | — | — | 3.60% |
| 10/25 | Durable Goods Orders | 1.00% | — | 2.00% |
| 10/25 | Durables Ex Transportation | 0.50% | — | 0.50% |
| 10/25 | Cap Goods Orders Nondef Ex Air | 0.30% | — | 1.10% |
| 10/25 | Cap Goods Ship Nondef Ex Air | -0.10% | — | 1.10% |
| 10/25 | FHFA House Price Index MoM | 0.40% | — | 0.20% |
| 10/25 | New Home Sales | 554k | — | 560k |
| 10/25 | New Home Sales MoM | -1.10% | — | -3.40% |
| 10/26 | Wholesale Inventories MoM | 0.40% | — | 0.90% |
| 10/26 | Initial Jobless Claims | 235k | — | 222k |
| 10/26 | Continuing Claims | 1895k | — | 1888k |
| 10/26 | Advance Goods Trade Balance | -$64.0b | — | -$62.9b |
| 10/26 | Retail Inventories MoM | — | — | 0.70% |
| 10/26 | Bloomberg Consumer Comfort | — | — | 51.1 |
| 10/26 | Pending Home Sales MoM | 0.40% | — | -2.60% |
| 10/26 | Pending Home Sales NSA YoY | — | — | -3.10% |
| 10/26 | Kansas City Fed Manf. Activity | 17 | — | 17 |
| 10/27 | GDP Annualized QoQ | 2.50% | — | 3.10% |
| 10/27 | Personal Consumption | 2.20% | — | 3.30% |
| 10/27 | GDP Price Index | 1.70% | — | 1.00% |
| 10/27 | Core PCE QoQ | 1.30% | — | 0.90% |
| 10/27 | U. of Mich. Sentiment | 100.7 | — | 101.1 |
| 10/27 | U. of Mich. Current Conditions | — | — | 116.4 |
| 10/27 | U. of Mich. Expectations | — | — | 91.3 |
| 10/27 | U. of Mich. 1 Yr Inflation | — | — | 2.30% |
| 10/27 | U. of Mich. 5-10 Yr Inflation | — | — | 2.40% |