October 24, 2019 Headlines

US Treasury yields fluctuated overnight on notably weak volume and ended unchanged to start the morning. The European Central Bank (ECB) decided to hold rates constant which was widely expected by the market. In what will be Mario Draghi’s final press conference as president of the bank, he reiterated the downside risks in the region but acknowledged a lower chance of a hard Brexit (leaving without a deal) helps reduce uncertainty. As the US and China continue to finalize details on phase one of the trade deal, reports have stated to come out that China is willing to buy at least $20bln in agricultural products in a year and would consider increasing that number in future rounds of talks.

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%-1.10%0.20%0.30%
10/24/2019Durables Ex Transportation-0.20%-0.30%0.50%0.30%
10/24/2019Cap Goods Orders Nondef Ex Air-0.10%-0.50%-0.40%-0.60%
10/24/2019Cap Goods Ship Nondef Ex Air-0.20%-0.70%0.30%0.00%
10/24/2019Initial Jobless Claims215k212k214k218k
10/24/2019Continuing Claims1678k1682k1679k1683k
10/24/2019Bloomberg Consumer Comfort63.463.5
10/24/2019Markit US Manufacturing PMI50.951.551.1
10/24/2019Markit US Services PMI515150.9
10/24/2019Markit US Composite PMI51.251
10/24/2019New Home Sales702k701k713k706k
10/24/2019New Home Sales MoM-1.60%-0.70%7.10%6.20%
10/24/2019Kansas City Fed Manf. Activity-3-2
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%
10/25/2019Monthly Budget Statement$83.0b$119.1b


















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