Treasuries are slightly higher this morning, while US equity futures are pointing to a lower open on the back of renewed trade tensions as the Trump administration seems poised to levy another round of tariffs on Chinese goods. This is a reversal from last week’s outlook as there had been reports stating that Chinese and US officials were set to open a new round of trade negotiations, but given the Presidents orders to expand tariffs, it appears that Chinese officials are planning on declining the invitation for negotiations later this month.

Hafizan Hamzah
Director, Investment Management Group

Date TimeEventSurveyActualPriorRevised
09/17/2018Empire Manufacturing231925.6
09/18/2018NAHB Housing Market Index6667
09/18/2018Total Net TIC Flows$114.5b
09/18/2018Net Long-term TIC Flows-$36.5b
09/19/2018MBA Mortgage Applications-1.80%
09/19/2018Current Account Balance-$103.3b-$124.1b
09/19/2018Housing Starts1235k1168k
09/19/2018Housing Starts MoM5.70%0.90%
09/19/2018Building Permits1310k1311k1303k
09/19/2018Building Permits MoM0.50%1.50%0.90%
09/20/2018Philadelphia Fed Business Outlook15.811.9
09/20/2018Initial Jobless Claims210k204k
09/20/2018Continuing Claims1705k1696k
09/20/2018Bloomberg Economic Expectations57
09/20/2018Bloomberg Consumer Comfort59
09/20/2018Leading Index0.50%0.60%
09/20/2018Existing Home Sales5.38m5.34m
09/20/2018Existing Home Sales MoM0.80%-0.70%
09/20/2018Household Change in Net Worth$1028b
09/21/2018Markit US Manufacturing PMI5554.7
09/21/2018Markit US Services PMI5554.8
09/21/2018Markit US Composite PMI54.7