Treasury prices are slightly lower this morning after today’s CPI release which finally came in higher than expected for the first time in five months. In the overnight trading session, stocks declined a bit on the back of weak Chinese economic data while oil continued its rally.

On a month over month basis, CPI marched upwards to 0.4% beating consensus estimates of 0.3% and on a year over year basis inflation increased by 1.9%, 0.1% higher than expected. If this uptick persists it should give Fed officials the confidence to move rates higher.

Hafizan Hamzah
Director, Investment Management Group

Date TimeEvent SurveyActualPriorRevised
09/14/2017 08:30Initial Jobless Claims9-Sep300k284k298k
09/14/2017 08:30Continuing Claims2-Sep1965k1944k1940k1951k
09/14/2017 08:30CPI MoMAug0.30%0.40%0.10%
09/14/2017 08:30CPI Ex Food and Energy MoMAug0.20%0.20%0.10%
09/14/2017 08:30CPI YoYAug1.80%1.90%1.70%
09/14/2017 08:30CPI Ex Food and Energy YoYAug1.60%1.70%1.70%
09/14/2017 08:30CPI Core Index SAAug252.336252.54251.914
09/14/2017 08:30CPI Index NSAAug245.35245.519244.786
09/14/2017 08:30Real Avg Weekly Earnings YoYAug0.90%1.10%
09/14/2017 08:30Real Avg Hourly Earning YoYAug0.60%0.70%
09/14/2017 09:45Bloomberg Consumer Comfort10-Sep51.952.6
09/15/2017 08:30Empire ManufacturingSep1825.2
09/15/2017 08:30Retail Sales Advance MoMAug0.10%0.60%
09/15/2017 08:30Retail Sales Ex Auto MoMAug0.50%0.50%
09/15/2017 08:30Retail Sales Ex Auto and GasAug0.30%0.50%
09/15/2017 08:30Retail Sales Control GroupAug0.20%0.60%
09/15/2017 09:15Industrial Production MoMAug0.10%0.20%
09/15/2017 09:15Capacity UtilizationAug76.70%76.70%
09/15/2017 09:15Manufacturing (SIC) ProductionAug0.30%-0.10%
09/15/2017 10:00U. of Mich. SentimentSep P9596.8
09/15/2017 10:00U. of Mich. Current ConditionsSep P110.9
09/15/2017 10:00U. of Mich. ExpectationsSep P87.7
09/15/2017 10:00U. of Mich. 1 Yr InflationSep P2.60%
09/15/2017 10:00U. of Mich. 5-10 Yr InflationSep P2.50%
09/15/2017 10:00Business InventoriesJul0.20%0.50%
09/18/2017 10:00NAHB Housing Market IndexSep6768
09/18/2017 16:00Total Net TIC FlowsJul$7.7b
09/18/2017 16:00Net Long-term TIC FlowsJul$34.4b
09/19/2017 08:30Housing StartsAug1185k1155k
09/19/2017 08:30Housing Starts MoMAug2.60%-4.80%
09/19/2017 08:30Building PermitsAug1215k1223k1230k
09/19/2017 08:30Building Permits MoMAug-1.20%-4.10%-3.50%
09/19/2017 08:30Current Account Balance2Q-$108.5b-$116.8b
09/19/2017 08:30Import Price Index MoMAug0.30%0.10%
09/19/2017 08:30Import Price Index ex Petroleum MoMAug0.00%
09/19/2017 08:30Import Price Index YoYAug1.50%
09/19/2017 08:30Export Price Index MoMAug0.20%0.40%
09/19/2017 08:30Export Price Index YoYAug0.80%
09/20/2017 07:00MBA Mortgage Applications15-Sep9.90%
09/20/2017 10:00Existing Home SalesAug5.48m5.44m
09/20/2017 10:00Existing Home Sales MoMAug0.60%-1.30%
09/20/2017 14:00FOMC Rate Decision (Upper Bound)20-Sep1.25%1.25%
09/20/2017 14:00FOMC Rate Decision (Lower Bound)20-Sep1.00%1.00%
09/21/2017 08:30Initial Jobless Claims16-Sep284k
09/21/2017 08:30Continuing Claims9-Sep1944k
09/21/2017 08:30Philadelphia Fed Business OutlookSep16.218.9
09/21/2017 09:00FHFA House Price Index MoMJul0.10%
09/21/2017 09:45Bloomberg Consumer Comfort17-Sep51.9
09/21/2017 09:45Bloomberg Economic ExpectationsSep54
09/21/2017 10:00Leading IndexAug0.20%0.30%
09/21/2017 12:00Household Change in Net Worth2Q$2347b
09/22/2017 09:45Markit US Manufacturing PMISep P52.8
09/22/2017 09:45Markit US Services PMISep P56
09/22/2017 09:45Markit US Composite PMISep P55.3