The curve is higher and steeper this morning following the announcement of a Chinese stimulus package which spurred a risk-on trade.
The 10-year yield is up 5 bps to 3.80%, hitting a 3-week high. Futures on the Dow and S&P are up 0.26% and 0.23% respectively.
The FHFA House Price Index rose by 0.1% in July, lower than the median forecast of +0.2%. On a y/y basis, the index is up 4.5%. The New England region saw the largest increase at +0.9% m/m while homes in the South Atlantic region saw the steepest decline at -0.7%.
Hafizan Hamzah
Senior Director, Investment Management Group
| Date | Event | Surv(M) | Actual | Prior |
| 09/24/24 | Philadelphia Fed Non-Manufacturing Activity | -9.3 | -6.1 | -25.1 |
| 09/24/24 | FHFA House Price Index MoM | 0.20% | 0.10% | -0.10% |
| 09/24/24 | S&P CoreLogic CS 20-City MoM SA | 0.40% | 0.27% | 0.42% |
| 09/24/24 | S&P CoreLogic CS US HPI YoY NSA | — | 4.96% | 5.42% |
| 09/24/24 | S&P CoreLogic CS 20-City YoY NSA | 5.90% | 5.92% | 6.47% |
| 09/24/24 | Conf. Board Consumer Confidence | 104 | — | 103.3 |
| 09/24/24 | Conf. Board Present Situation | — | — | 134.4 |
| 09/24/24 | Conf. Board Expectations | — | — | 82.5 |
| 09/24/24 | Richmond Fed Manufact. Index | -12 | — | -19 |
| 09/24/24 | Richmond Fed Business Conditions | — | — | -13 |
| 09/25/24 | MBA Mortgage Applications | — | — | 14.20% |
| 09/25/24 | New Home Sales | 700k | — | 739k |
| 09/25/24 | New Home Sales MoM | -5.30% | — | 10.60% |
| 09/26/24 | BEA annual revisions to GDP/National Economic Accounts | |||
| 09/26/24 | GDP Annualized QoQ | 3.00% | — | 3.00% |
| 09/26/24 | Personal Consumption | 2.90% | — | 2.90% |
| 09/26/24 | GDP Price Index | 2.50% | — | 2.50% |
| 09/26/24 | Core PCE Price Index QoQ | 2.80% | — | 2.80% |
| 09/26/24 | Durable Goods Orders | -2.80% | — | 9.80% |
| 09/26/24 | Durables Ex Transportation | 0.10% | — | -0.20% |
| 09/26/24 | Cap Goods Orders Nondef Ex Air | 0.10% | — | -0.10% |
| 09/26/24 | Cap Goods Ship Nondef Ex Air | 0.10% | — | -0.30% |
| 09/26/24 | Initial Jobless Claims | 225k | — | 219k |
| 09/26/24 | Continuing Claims | 1828k | — | 1829k |
| 09/26/24 | Pending Home Sales MoM | 1.00% | — | -5.50% |
| 09/26/24 | Pending Home Sales NSA YoY | — | — | -4.60% |
| 09/26/24 | Kansas City Fed Manf. Activity | — | — | -3 |
| 09/27/24 | Personal Income | 0.40% | — | 0.30% |
| 09/27/24 | Wholesale Inventories MoM | 0.20% | — | 0.20% |
| 09/27/24 | Personal Spending | 0.30% | — | 0.50% |
| 09/27/24 | Real Personal Spending | 0.10% | — | 0.40% |
| 09/27/24 | PCE Price Index MoM | 0.10% | — | 0.20% |
| 09/27/24 | PCE Price Index YoY | 2.30% | — | 2.50% |
| 09/27/24 | Advance Goods Trade Balance | -$100.3b | — | -$102.7b |
| 09/27/24 | Core PCE Price Index MoM | 0.20% | — | 0.20% |
| 09/27/24 | Core PCE Price Index YoY | 2.70% | — | 2.60% |
| 09/27/24 | Retail Inventories MoM | 0.60% | — | 0.80% |
| 09/27/24 | Bloomberg Sept. United States Economic Survey | |||
| 09/27/24 | U. of Mich. Sentiment | 69.3 | — | 69 |
| 09/27/24 | U. of Mich. Current Conditions | — | — | 62.9 |
| 09/27/24 | U. of Mich. Expectations | — | — | 73 |
| 09/27/24 | U. of Mich. 1 Yr Inflation | — | — | 2.70% |
| 09/27/24 | U. of Mich. 5-10 Yr Inflation | — | — | 3.10% |
| 09/27/24 | Kansas City Fed Services Activity | — | — | 5 |
