Treasury yields are 2-4 basis points lower to start the day with some dip buying emerging overnight in the wake of yesterday’s selloff.
The May JOLTS report will be released later this morning. In addition to job openings, there will likely be focus on the quit and layoff rates from the survey results. Job openings fell 754,000 in March and April combined and are expected to have fallen a more modest 113,000 in May. Fed Chair Powell will be speaking this evening at an event hosted by the ECB.
Jason Haley
Chief Investment Officer
| Date | Event | Survey | Actual | Prior | Revised |
| 7/2/2024 | JOLTS Job Openings | 7946k | — | 8059k | — |
| 7/2/2024 | Wards Total Vehicle Sales | 15.80m | — | 15.90m | — |
| 7/3/2024 | MBA Mortgage Applications | — | — | 0.80% | — |
| 7/3/2024 | Challenger Job Cuts YoY | — | — | -20.30% | — |
| 7/3/2024 | ADP Employment Change | 165k | — | 152k | — |
| 7/3/2024 | Trade Balance | -$76.5b | — | -$74.6b | — |
| 7/3/2024 | Initial Jobless Claims | 235k | — | 233k | — |
| 7/3/2024 | Continuing Claims | 1840k | — | 1839k | — |
| 7/3/2024 | S&P Global US Services PMI | 55 | — | 55.1 | — |
| 7/3/2024 | S&P Global US Composite PMI | — | — | 54.6 | — |
| 7/3/2024 | Factory Orders | 0.20% | — | 0.70% | — |
| 7/3/2024 | Factory Orders Ex Trans | — | — | 0.70% | — |
| 7/3/2024 | ISM Services Index | 52.6 | — | 53.8 | — |
| 7/3/2024 | ISM Services Prices Paid | 56.5 | — | 58.1 | — |
| 7/3/2024 | ISM Services Employment | — | — | 47.1 | — |
| 7/3/2024 | ISM Services New Orders | — | — | 54.1 | — |
| 7/3/2024 | Durable Goods Orders | 0.10% | — | 0.10% | — |
| 7/3/2024 | Durables Ex Transportation | -0.10% | — | -0.10% | — |
| 7/3/2024 | Cap Goods Orders Nondef Ex Air | — | — | -0.60% | — |
| 7/3/2024 | Cap Goods Ship Nondef Ex Air | — | — | -0.50% | — |
| 7/3/2024 | FOMC Meeting Minutes | — | — | — | — |
| 7/5/2024 | Two-Month Payroll Net Revision | — | — | -15k | — |
| 7/5/2024 | Change in Nonfarm Payrolls | 195k | — | 272k | — |
| 7/5/2024 | Change in Private Payrolls | 160k | — | 229k | — |
| 7/5/2024 | Change in Manufact. Payrolls | 5k | — | 8k | — |
| 7/5/2024 | Unemployment Rate | 4.00% | — | 4.00% | — |
| 7/5/2024 | Average Hourly Earnings MoM | 0.30% | — | 0.40% | — |
| 7/5/2024 | Average Hourly Earnings YoY | 3.90% | — | 4.10% | — |
| 7/5/2024 | Average Weekly Hours All Employees | 34.3 | — | 34.3 | — |
| 7/5/2024 | Labor Force Participation Rate | 62.60% | — | 62.50% | — |
| 7/5/2024 | Underemployment Rate | — | — | 7.40% | — |
| 7/8/2024 | NY Fed 1-Yr Inflation Expectations | — | — | 3.17% | — |
| 7/8/2024 | Consumer Credit | $10.000b | — | $6.403b | — |
| 7/9/2024 | NFIB Small Business Optimism | — | — | 90.5 | — |
