October 4, 2021 Headlines

Treasuries are selling off this morning with the 10-year up roughly 3 bps, while equity futures are lower as issues surrounding supply chains threaten to put a damper on growth. Additionally, these supply worries are spurring concerns over inflation. Investors are fearful that energy shortage will drive prices higher causing the recovery to stall. The economic calendar is fairly light this morning with Factory Orders and Durable Goods Orders the items on the docket.

Hafizan Hamzah
Director, Investment Management Group

10/04/21Factory Orders1.00%0.40%
10/04/21Factory Orders Ex Trans0.40%0.80%
10/04/21Durable Goods Orders1.80%1.80%
10/04/21Durables Ex Transportation0.20%0.20%
10/04/21Cap Goods Orders Nondef Ex Air0.50%0.50%
10/04/21Cap Goods Ship Nondef Ex Air0.70%
10/05/21Trade Balance-$70.7b-$70.1b
10/05/21Markit US Services PMI54.454.4
10/05/21Markit US Composite PMI54.5
10/05/21ISM Services Index6061.7
10/06/21MBA Mortgage Applications-1.10%
10/06/21ADP Employment Change430k374k
10/07/21Challenger Job Cuts YoY-86.40%
10/07/21Initial Jobless Claims350k362k
10/07/21Continuing Claims2770k2802k
10/07/21Langer Consumer Comfort54.7
10/07/21Consumer Credit$17.250b$17.004b
10/08/21Change in Nonfarm Payrolls488k235k
10/08/21Two-Month Payroll Net Revision134k
10/08/21Change in Private Payrolls450k243k
10/08/21Change in Manufact. Payrolls25k37k
10/08/21Unemployment Rate5.10%5.20%
10/08/21Average Hourly Earnings MoM0.40%0.60%
10/08/21Average Hourly Earnings YoY4.60%4.30%
10/08/21Average Weekly Hours All Employees34.734.7
10/08/21Labor Force Participation Rate61.70%61.70%
10/08/21Underemployment Rate8.80%
10/08/21Wholesale Inventories MoM1.20%1.20%
10/08/21Wholesale Trade Sales MoM2.00%

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