Treasury yields are higher and the curve steeper this morning as central bank officials continue to push back on rate cuts.
ECB Governing Council member Francois Villeroy de Galhau said stated that it was too early to declare inflation over while Atlanta Fed President said he preferred to wait till after the summer before cutting rates. Later today Fed Governor Waller will speak, and the market will be paying close attention to see if he starts to push against the idea of a March cut, or essentially confirm that March is on the table.
Hafizan Hamzah
Senior Director, Investment Management Group
| Date | Event | Surv(M) | Actual | Prior | Revised |
| 01/16/24 | Empire Manufacturing | -5 | -43.7 | -14.5 | — |
| 01/17/24 | MBA Mortgage Applications | — | — | 9.90% | — |
| 01/17/24 | New York Fed Services Business Activity | — | — | -14.6 | — |
| 01/17/24 | Retail Sales Advance MoM | 0.40% | — | 0.30% | — |
| 01/17/24 | Retail Sales Ex Auto MoM | 0.20% | — | 0.20% | — |
| 01/17/24 | Retail Sales Ex Auto and Gas | 0.30% | — | 0.60% | — |
| 01/17/24 | Retail Sales Control Group | 0.20% | — | 0.40% | — |
| 01/17/24 | Import Price Index MoM | -0.50% | — | -0.40% | — |
| 01/17/24 | Import Price Index ex Petroleum MoM | 0.00% | — | 0.20% | — |
| 01/17/24 | Import Price Index YoY | -2.00% | — | -1.40% | — |
| 01/17/24 | Export Price Index MoM | -0.70% | — | -0.90% | — |
| 01/17/24 | Export Price Index YoY | -0.70% | — | -5.20% | — |
| 01/17/24 | Industrial Production MoM | 0.00% | — | 0.20% | — |
| 01/17/24 | Capacity Utilization | 78.70% | — | 78.80% | — |
| 01/17/24 | Manufacturing (SIC) Production | 0.00% | — | 0.30% | — |
| 01/17/24 | Business Inventories | -0.10% | — | -0.10% | — |
| 01/17/24 | NAHB Housing Market Index | 39 | — | 37 | — |
| 01/17/24 | Federal Reserve Releases Beige Book | ||||
| 01/18/24 | Housing Starts | 1425k | — | 1560k | — |
| 01/18/24 | Building Permits | 1475k | — | 1460k | 1467k |
| 01/18/24 | Housing Starts MoM | -8.70% | — | 14.80% | — |
| 01/18/24 | Building Permits MoM | 0.60% | — | -2.50% | -2.10% |
| 01/18/24 | Philadelphia Fed Business Outlook | -7 | — | -10.5 | -12.8 |
| 01/18/24 | Initial Jobless Claims | 206k | — | 202k | — |
| 01/18/24 | Continuing Claims | 1845k | — | 1834k | — |
| 01/19/24 | U. of Mich. Sentiment | 70 | — | 69.7 | — |
| 01/19/24 | U. of Mich. Expectations | 66.6 | — | 67.4 | — |
| 01/19/24 | U. of Mich. Current Conditions | 73 | — | 73.3 | — |
| 01/19/24 | U. of Mich. 1 Yr Inflation | 3.10% | — | 3.10% | — |
| 01/19/24 | U. of Mich. 5-10 Yr Inflation | 3.00% | — | 2.90% | — |
| 01/19/24 | Existing Home Sales | 3.83m | — | 3.82m | — |
| 01/19/24 | Existing Home Sales MoM | 0.30% | — | 0.80% | — |
| 01/19/24 | Total Net TIC Flows | — | — | -$83.8b | — |
| 01/19/24 | Net Long-term TIC Flows | — | — | $3.3b | — |
