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Author Jason Haley

Published

Estimated

Treasury yields are unchanged to slightly higher on a relatively quiet morning thus far. 

Initial jobless claims were slightly lower than expected last week, holding steady at 212,000. Later this morning, March existing home sales data will be released, which are expected to show a 4.1% decline in activity versus the prior month. Multiple Fed leaders are scheduled to speak today, including New York Fed President John Williams and Atlanta Fed President Raphael Bostic.

Strong investment performance, particularly equity returns, has boosted pension fund surpluses to the highest levels of the post-crisis era according to the Milliman 100 Pension Funding Index. As such, a Wall Street Journal article notes that several large corporate pension funds are now reallocating funds away from equities and into bonds and private equity/debt.

Jason Haley
Chief Investment Officer

DateEventSurveyActualPriorRevised
4/18/2024Philadelphia Fed Business Outlook215.53.2—
4/18/2024Initial Jobless Claims215k212k211k212k
4/18/2024Continuing Claims1818k1812k1817k1810k
4/18/2024Leading Index-0.10%—0.10%—
4/18/2024Existing Home Sales4.20m—4.38m—
4/18/2024Existing Home Sales MoM-4.10%—9.50%—
4/19/2024Bloomberg April United States Economic Survey    
4/22/2024Chicago Fed Nat Activity Index——0.05—
4/23/2024Philadelphia Fed Non-Manufacturing Activity——-18.3—
4/23/2024S&P Global US Manufacturing PMI——51.9—
4/23/2024S&P Global US Services PMI——51.7—
4/23/2024S&P Global US Composite PMI——52.1—
4/23/2024Revisions: Retail Sales    
4/23/2024New Home Sales673k—662k—
4/23/2024New Home Sales MoM1.60%—-0.30%—
4/23/2024Richmond Fed Manufact. Index——-11—
4/23/2024Richmond Fed Business Conditions——-8—
4/24/2024MBA Mortgage Applications——3.30%—
4/24/2024Durable Goods Orders2.80%—1.30%—
4/24/2024Durables Ex Transportation0.20%—0.30%—
4/24/2024Cap Goods Orders Nondef Ex Air——0.70%—
4/24/2024Cap Goods Ship Nondef Ex Air——-0.60%—
4/25/2024Wholesale Inventories MoM——0.50%—
4/25/2024GDP Annualized QoQ2.10%—3.40%—
4/25/2024Personal Consumption——3.30%—
4/25/2024GDP Price Index——1.60%—
4/25/2024Core PCE Price Index QoQ——2.00%—
4/25/2024Advance Goods Trade Balance-$90.7b—-$91.8b-$90.3b
4/25/2024Retail Inventories MoM——0.50%0.60%
4/25/2024Initial Jobless Claims——212k—
4/25/2024Continuing Claims——1812k—
4/25/2024Pending Home Sales MoM——1.60%—
4/25/2024Pending Home Sales NSA YoY——-2.20%—
4/25/2024Kansas City Fed Manf. Activity——-7—

Jason Haley

Chief Investment Officer

LinkedIn

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