Treasury yields are modestly higher and steeper to start the day in relatively light trading.
The market is also preparing for $183 billion of new supply of 2-year, 5-year, and 7-year notes this week, beginning with the $69 billion 2-year note auction this afternoon. San Francisco Fed President Mary Daly said yesterday that a 25 basis point rate cut in September is “more likely,” while also noting that “it would be hard to imagine” anything derailing a decision to begin easing interest rate policy at the next FOMC meeting. Later this morning, S&P will release June home price data, and the Conference Board’s consumer confidence data for August will be released as well.
Jason Haley
Chief Investment Officer
| Date | Event | Surv(M) | Actual | Prior |
| 08/27/24 | FHFA House Price Index MoM | 0.10% | — | 0.00% |
| 08/27/24 | House Price Purchase Index QoQ | — | — | 1.10% |
| 08/27/24 | S&P CoreLogic CS 20-City MoM SA | 0.30% | — | 0.34% |
| 08/27/24 | S&P CoreLogic CS US HPI YoY NSA | 5.43% | — | 5.94% |
| 08/27/24 | S&P CoreLogic CS 20-City YoY NSA | 6.14% | — | 6.81% |
| 08/27/24 | Conf. Board Consumer Confidence | 100.8 | — | 100.3 |
| 08/27/24 | Conf. Board Present Situation | — | — | 133.6 |
| 08/27/24 | Conf. Board Expectations | — | — | 78.2 |
| 08/27/24 | Richmond Fed Manufact. Index | -14 | — | -17 |
| 08/27/24 | Richmond Fed Business Conditions | — | — | -9 |
| 08/27/24 | Dallas Fed Services Activity | — | — | -0.1 |
| 08/28/24 | MBA Mortgage Applications | — | — | -10.10% |
| 08/29/24 | GDP Annualized QoQ | 2.80% | — | 2.80% |
| 08/29/24 | Personal Consumption | 2.20% | — | 2.30% |
| 08/29/24 | GDP Price Index | 2.30% | — | 2.30% |
| 08/29/24 | Core PCE Price Index QoQ | 2.90% | — | 2.90% |
| 08/29/24 | Advance Goods Trade Balance | -$97.8b | — | -$96.8b |
| 08/29/24 | Wholesale Inventories MoM | 0.30% | — | 0.20% |
| 08/29/24 | Retail Inventories MoM | 0.50% | — | 0.70% |
| 08/29/24 | Initial Jobless Claims | 233k | — | 232k |
| 08/29/24 | Continuing Claims | 1870k | — | 1863k |
| 08/29/24 | Pending Home Sales MoM | 0.20% | — | 4.80% |
| 08/29/24 | Pending Home Sales NSA YoY | -2.00% | — | -7.80% |
| 08/30/24 | Personal Income | 0.20% | — | 0.20% |
| 08/30/24 | Personal Spending | 0.50% | — | 0.30% |
| 08/30/24 | Real Personal Spending | 0.30% | — | 0.20% |
| 08/30/24 | PCE Price Index MoM | 0.20% | — | 0.10% |
| 08/30/24 | PCE Price Index YoY | 2.60% | — | 2.50% |
| 08/30/24 | Core PCE Price Index MoM | 0.20% | — | 0.20% |
| 08/30/24 | Core PCE Price Index YoY | 2.70% | — | 2.60% |
| 08/30/24 | MNI Chicago PMI | 45.1 | — | 45.3 |
| 08/30/24 | U. of Mich. Sentiment | 68 | — | 67.8 |
| 08/30/24 | U. of Mich. Current Conditions | — | — | 60.9 |
| 08/30/24 | U. of Mich. Expectations | — | — | 72.1 |
| 08/30/24 | U. of Mich. 1 Yr Inflation | — | — | 2.90% |
| 08/30/24 | U. of Mich. 5-10 Yr Inflation | — | — | 3.00% |
