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Author Jason Haley

Published

Estimated

Treasuries are essentially unchanged on a relatively quiet end to the month so far.

Fed Vice Chair for Supervision Michelle Bowman announced plans to reorganize the Fed’s bank regulation and supervision division and shrink staffing by roughly 30% over the next year. According to a Bloomberg article, Bowman wants Fed staff to rely on examinations by a bank’s primary regulatory rather than duplicating efforts on that front. Three different Fed leaders will be speaking today, two of which are voting members of the FOMC in 2026 (Logan and Hammack).

Jason Haley
Chief Investment Officer

DateEventSurveyActualPrior
10/31/2025List of US Economic Indicators Delayed by Government Shutdown   
10/31/2025Personal Income Report Delayed by Government Shutdown   
10/31/2025Employment Cost Index Delayed by Government Shutdown   
10/31/2025MNI Chicago PMI42     —40.6
11/3/2025S&P Global US Manufacturing PMI     —     —52.2
11/3/2025ISM Manufacturing49.2     —49.1
11/3/2025ISM Prices Paid     —     —61.9
11/3/2025ISM New Orders     —     —48.9
11/3/2025ISM Employment     —     —45.3
11/3/2025Construction Spending MoM     —     —     —
11/3/2025Wards Total Vehicle Sales15.50m     —16.39m
11/4/2025Trade Balance     —     —     —
11/4/2025Exports MoM     —     —     —
11/4/2025Imports MoM     —     —     —
11/4/2025JOLTS Job Openings     —     —7227k
11/4/2025JOLTS Job Openings Rate     —     —4.30%
11/4/2025JOLTS Quits Level     —     —3091k
11/4/2025JOLTS Quits Rate     —     —1.90%
11/4/2025JOLTS Layoffs Level     —     —1725k
11/4/2025JOLTS Layoffs Rate     —     —1.10%
11/4/2025Factory Orders     —     —     —
11/4/2025Factory Orders Ex Trans     —     —     —
11/4/2025Durable Goods Orders     —     —     —
11/4/2025Durables Ex Transportation     —     —     —
11/4/2025Cap Goods Orders Nondef Ex Air     —     —     —
11/4/2025Cap Goods Ship Nondef Ex Air     —     —     —
11/5/2025MBA Mortgage Applications     —     —7.10%
11/5/2025ADP Employment Change25k     —-32k
11/5/2025S&P Global US Services PMI     —     —55.2
11/5/2025S&P Global US Composite PMI     —     —54.8
11/5/2025ISM Services Index51     —50
11/5/2025ISM Services Prices Paid     —     —69.4
11/5/2025ISM Services New Orders     —     —50.4
11/5/2025ISM Services Employment     —     —47.2
11/6/2025Challenger Job Cuts YoY     —     —-25.80%
11/6/2025Nonfarm Productivity     —     —3.30%
11/6/2025Unit Labor Costs     —     —1.00%
11/6/2025Initial Jobless Claims     —     —     —
11/6/2025Initial Claims 4-Wk Moving Avg     —     —     —
11/6/2025Continuing Claims     —     —     —
11/6/2025Wholesale Trade Sales MoM     —     —     —
11/6/2025Wholesale Inventories MoM     —     —     —
11/7/2025Change in Nonfarm Payrolls     —     —     —
11/7/2025Two-Month Payroll Net Revision     —     —     —
11/7/2025Change in Private Payrolls     —     —     —
11/7/2025Change in Manufact. Payrolls     —     —     —
11/7/2025Nonfarm Payrolls 3-Mo Avg Chg     —     —     —
11/7/2025Unemployment Rate     —     —     —
11/7/2025Labor Force Participation Rate     —     —     —
11/7/2025Underemployment Rate     —     —     —
11/7/2025Average Hourly Earnings MoM     —     —     —
11/7/2025Average Hourly Earnings YoY     —     —     —
11/7/2025Average Weekly Hours All Employees     —     —     —
11/7/2025U. of Mich. Sentiment54     —53.6
11/7/2025U. of Mich. Current Conditions     —     —58.6
11/7/2025U. of Mich. Expectations     —     —50.3
11/7/2025U. of Mich. 1 Yr Inflation     —     —4.60%
11/7/2025U. of Mich. 5-10 Yr Inflation     —     —3.90%
11/7/2025NY Fed 1-Yr Inflation Expectations     —     —3.38%
11/7/2025Consumer Credit     —     —$0.363b

Jason Haley

Chief Investment Officer

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