September 28, 2021 Headlines

The US Treasury curve continued to bear steepen with 10-year yields up 5.5 bps to 1.54% ahead of the open. In Monday’s testimony to the Senate Banking Committee, Federal Reserve Chairman Powell alluded to the possibility of reduced asset purchases. Supply chain bottlenecks have lasted longer than anticipated but the chairman expects inflation pressures to eventually ease towards the long-run 2% goal. While the institution’s second mandate, full employment, has “all but met” the requirements to taper purchases.

Chris Eckhoff
Associate, Investment Management Group

DateEventSurveyActualPriorRevised
9/28/2021Advance Goods Trade Balance-$87.3b-$87.6b-$86.4b-$86.8b
9/28/2021Wholesale Inventories MoM0.80%1.20%0.60%
9/28/2021Retail Inventories MoM0.50%0.10%0.40%
9/28/2021FHFA House Price Index MoM1.50%1.40%1.60%1.70%
9/28/2021S&P CoreLogic CS 20-City MoM SA1.70%1.55%1.77%1.79%
9/28/2021S&P CoreLogic CS 20-City YoY NSA20.00%19.95%19.08%19.14%
9/28/2021S&P CoreLogic CS US HPI YoY NSA19.70%18.61%18.73%
9/28/2021Conf. Board Consumer Confidence115113.8
9/28/2021Conf. Board Present Situation147.3
9/28/2021Conf. Board Expectations91.4
9/28/2021Richmond Fed Manufact. Index109
9/29/2021MBA Mortgage Applications4.90%
9/29/2021Pending Home Sales MoM1.00%-1.80%
9/29/2021Pending Home Sales NSA YoY-9.50%
9/30/2021Initial Jobless Claims330k351k
9/30/2021Continuing Claims2800k2845k
9/30/2021GDP Annualized QoQ6.60%6.60%
9/30/2021Personal Consumption11.90%11.90%
9/30/2021GDP Price Index6.10%6.10%
9/30/2021Core PCE QoQ6.10%6.10%
9/30/2021Langer Consumer Comfort56.3
9/30/2021MNI Chicago PMI6566.8
10/1/2021Personal Income0.20%1.10%
10/1/2021Personal Spending0.70%0.30%
10/1/2021Real Personal Spending0.40%-0.10%
10/1/2021PCE Deflator MoM0.30%0.40%
10/1/2021PCE Deflator YoY4.20%4.20%
10/1/2021PCE Core Deflator MoM0.20%0.30%
10/1/2021PCE Core Deflator YoY3.50%3.60%
10/1/2021Markit US Manufacturing PMI60.560.5
10/1/2021U. of Mich. Sentiment7171
10/1/2021U. of Mich. Current Conditions77.1
10/1/2021U. of Mich. Expectations67.1
10/1/2021U. of Mich. 1 Yr Inflation4.70%
10/1/2021U. of Mich. 5-10 Yr Inflation2.90%
10/1/2021Construction Spending MoM0.30%0.30%
10/1/2021ISM Manufacturing59.559.9
10/1/2021ISM Prices Paid78.079.4
10/1/2021ISM New Orders66.7
10/1/2021ISM Employment49
10/1/2021Wards Total Vehicle Sales13.20m13.06m

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