Treasury yields are 4-6 basis points lower across the curve to start the day with no major catalysts for the rally overnight.
Composite PMI data (services and manufacturing) for the Eurozone improved in February, although still in contractionary territory at 49.2. Later this morning, February S&P PMI and ISM services data will be released for the U.S., as will the final read on January durable goods orders. Fed Vice Chair for Supervision Barr will make two separate appearances today – one to discuss CRA modernization and the other a roundtable for CDFIs.
Jason Haley
Chief Investment Officer
| Date | Event | Survey | Actual | Prior | Revised |
| 3/5/2024 | S&P Global US Services PMI | 51.4 | — | 51.3 | — |
| 3/5/2024 | S&P Global US Composite PMI | 51.4 | — | 51.4 | — |
| 3/5/2024 | Factory Orders | -2.90% | — | 0.20% | — |
| 3/5/2024 | Factory Orders Ex Trans | -0.10% | — | 0.40% | — |
| 3/5/2024 | Durable Goods Orders | -6.10% | — | -6.10% | — |
| 3/5/2024 | Durables Ex Transportation | -0.30% | — | -0.30% | — |
| 3/5/2024 | Cap Goods Orders Nondef Ex Air | 0.10% | — | 0.10% | — |
| 3/5/2024 | Cap Goods Ship Nondef Ex Air | — | — | 0.80% | — |
| 3/5/2024 | ISM Services Index | 53 | — | 53.4 | — |
| 3/5/2024 | ISM Services Prices Paid | 62 | — | 64 | — |
| 3/5/2024 | ISM Services Employment | 51.4 | — | 50.5 | — |
| 3/5/2024 | ISM Services New Orders | 54.4 | — | 55 | — |
| 3/6/2024 | MBA Mortgage Applications | — | — | -5.60% | — |
| 3/6/2024 | ADP Employment Change | 150k | — | 107k | — |
| 3/6/2024 | JOLTS Job Openings | 8850k | — | 9026k | — |
| 3/6/2024 | Wholesale Inventories MoM | -0.10% | — | -0.10% | — |
| 3/6/2024 | Wholesale Trade Sales MoM | 0.30% | — | 0.70% | — |
| 3/6/2024 | Federal Reserve Releases Beige Book | ||||
| 3/7/2024 | Challenger Job Cuts YoY | — | — | -20.00% | — |
| 3/7/2024 | Trade Balance | -$63.5b | — | -$62.2b | — |
| 3/7/2024 | Nonfarm Productivity | 3.10% | — | 3.20% | — |
| 3/7/2024 | Unit Labor Costs | 0.70% | — | 0.50% | — |
| 3/7/2024 | Initial Jobless Claims | 217k | — | 215k | — |
| 3/7/2024 | Continuing Claims | 1880k | — | 1905k | — |
| 3/7/2024 | Household Change in Net Worth | — | — | -$1312b | — |
| 3/7/2024 | Consumer Credit | $10.000b | — | $1.561b | — |
| 3/8/2024 | Two-Month Payroll Net Revision | — | — | 126k | — |
| 3/8/2024 | Change in Nonfarm Payrolls | 200k | — | 353k | — |
| 3/8/2024 | Change in Private Payrolls | 160k | — | 317k | — |
| 3/8/2024 | Change in Manufact. Payrolls | 7k | — | 23k | — |
| 3/8/2024 | Unemployment Rate | 3.70% | — | 3.70% | — |
| 3/8/2024 | Average Hourly Earnings MoM | 0.20% | — | 0.60% | — |
| 3/8/2024 | Average Hourly Earnings YoY | 4.30% | — | 4.50% | — |
| 3/8/2024 | Average Weekly Hours All Employees | 34.3 | — | 34.1 | — |
| 3/8/2024 | Labor Force Participation Rate | 62.60% | — | 62.50% | — |
| 3/8/2024 | Underemployment Rate | — | — | 7.20% | — |
| 3/11/2024 | NY Fed 1-Yr Inflation Expectations | — | — | 3.00% | — |
| 3/12/2024 | NFIB Small Business Optimism | — | — | 89.9 | — |
| 3/12/2024 | CPI MoM | 0.40% | — | 0.30% | — |
| 3/12/2024 | CPI Ex Food and Energy MoM | 0.30% | — | 0.40% | — |
| 3/12/2024 | CPI YoY | — | — | 3.10% | — |
| 3/12/2024 | CPI Ex Food and Energy YoY | 3.70% | — | 3.90% | — |
| 3/12/2024 | CPI Index NSA | — | — | 308.417 | — |
| 3/12/2024 | CPI Core Index SA | — | — | 314.438 | — |
| 3/12/2024 | Real Avg Weekly Earnings YoY | — | — | -0.10% | — |
| 3/12/2024 | Real Avg Hourly Earning YoY | — | — | 1.40% | — |
| 3/12/2024 | Monthly Budget Statement | — | — | -$21.9b | — |
