Treasuries are taking a break from their recent sell-off this morning with yields 2 to 5 bps lower across the curve. Equity futures are pointing to a lower open this morning with the Dow down 0.09% and the S&P down 0.15%.
Two Fed officials spoke late yesterday, Kansas City Fed President Schmid and Boston Fed President Collins. The two’s remarks sent mixed signals, Schmid noted that the central bank is “not quite there” in its goal to get inflation down and that he’s not yet ready to support a rate cut. Collins on the other hand seemed to be more sanguine about the prospect of a rate cut, stating that she be believed it would be appropriate to lower rates if inflation continues to decline as she expects.
Hafizan Hamzah Senior Director, Investment Management Group
Date Event Surv(M) Actual Prior Revised 08/08/24 Initial Jobless Claims 240k 233k 249k 250k 08/08/24 Continuing Claims 1875k 1875k 1877k 1869k 08/08/24 Wholesale Inventories MoM 0.20% — 0.20% — 08/08/24 Wholesale Trade Sales MoM 0.30% — 0.40% —
Hafizan Hamzah Senior Director, Investment Management Group
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