October 24, 2023 Headlines

Treasuries went on a bit of wild ride yesterday. After breaching 5% for the first time since 2007, the 10-year rallied back to 4.85% on the back of rising recession fears as well as geopolitical tensions. The calendar is light today, but we’ll see new home sales data tomorrow and GDP on Thursday.

Hafizan Hamzah
Senior Director, Investment Management Group

10/24/23Philadelphia Fed Non-Manufacturing Activity-20.3-16.6
10/24/23S&P Global US Manufacturing PMI49.549.8
10/24/23S&P Global US Services PMI49.950.1
10/24/23S&P Global US Composite PMI5050.2
10/24/23Richmond Fed Manufact. Index35
10/24/23Richmond Fed Business Conditions-5
10/25/23MBA Mortgage Applications-6.90%
10/25/23New Home Sales680k675k
10/25/23New Home Sales MoM0.70%-8.70%
10/26/23Wholesale Inventories MoM0.10%-0.10%
10/26/23Advance Goods Trade Balance-$86.0b-$84.3b-$84.6b
10/26/23GDP Annualized QoQ4.50%2.10%
10/26/23Personal Consumption4.00%0.80%
10/26/23Retail Inventories MoM0.20%1.10%
10/26/23GDP Price Index2.70%1.70%
10/26/23Durable Goods Orders1.80%0.10%
10/26/23Core PCE Price Index QoQ2.50%3.70%
10/26/23Durables Ex Transportation0.20%0.40%
10/26/23Cap Goods Orders Nondef Ex Air0.00%0.90%
10/26/23Cap Goods Ship Nondef Ex Air0.20%0.70%
10/26/23Initial Jobless Claims207k198k
10/26/23Continuing Claims1740k1734k
10/26/23Pending Home Sales MoM-2.10%-7.10%
10/26/23Pending Home Sales NSA YoY-14.60%-18.80%
10/26/23Kansas City Fed Manf. Activity-8
10/27/23Personal Income0.40%0.40%
10/27/23Personal Spending0.50%0.40%
10/27/23Real Personal Spending0.20%0.10%
10/27/23PCE Deflator MoM0.30%0.40%
10/27/23PCE Deflator YoY3.40%3.50%
10/27/23PCE Core Deflator MoM0.30%0.10%
10/27/23PCE Core Deflator YoY3.70%3.90%
10/27/23U. of Mich. Sentiment6363
10/27/23U. of Mich. Current Conditions66.7
10/27/23U. of Mich. Expectations60.7
10/27/23U. of Mich. 1 Yr Inflation3.80%3.80%
10/27/23U. of Mich. 5-10 Yr Inflation3.00%3.00%
10/27/23Kansas City Fed Services Activity2

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