October 7, 2021 Headlines

Risk markets have traded better ever since reports surfaced yesterday afternoon that Republicans had offered a deal to Democrat leaders that would temporarily lift the debt ceiling. European stocks have been further boosted by declining energy prices. Senate Minority Leader Mitch McConnell said he will not block a debt ceiling extension into December as long as the extension includes a dollar limit, the latter of which is said to be a point of contention for Democrats. Initial jobless claims fell more than expected last week to 326,000, just above the current cycle low of 312,000 reached a month earlier. Cleveland Fed President Loretta Mester will participate on an inflation dynamics panel with ECB executive board member Philip Lane later this morning.

Jason Haley
Chief Investment Officer

Date Event Survey Actual Prior Revised
10/7/2021 Challenger Job Cuts YoY — -84.90% -86.40% —
10/7/2021 Initial Jobless Claims 348k 326k 362k 364k
10/7/2021 Continuing Claims 2766k 2714k 2802k 2811k
10/7/2021 Langer Consumer Comfort — — 54.7 —
10/7/2021 Consumer Credit $17.500b — $17.004b —
10/8/2021 Change in Nonfarm Payrolls 500k — 235k —
10/8/2021 Two-Month Payroll Net Revision — — — —
10/8/2021 Change in Private Payrolls 450k — 243k —
10/8/2021 Change in Manufact. Payrolls 25k — 37k —
10/8/2021 Unemployment Rate 5.10% — 5.20% —
10/8/2021 Average Hourly Earnings MoM 0.40% — 0.60% —
10/8/2021 Average Hourly Earnings YoY 4.60% — 4.30% —
10/8/2021 Average Weekly Hours All Employees 34.7 — 34.7 —
10/8/2021 Labor Force Participation Rate 61.80% — 61.70% —
10/8/2021 Underemployment Rate — — 8.80% —
10/8/2021 Wholesale Inventories MoM 1.20% — 1.20% —
10/8/2021 Wholesale Trade Sales MoM 0.90% — 2.00% —

 

 

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