September 29, 2021 Headlines

US Treasury yields bull flattened overnight as the market attempts to price in a Federal Reserve ready to taper asset purchases, as well as renewed inflation fears tied to increased energy costs. In the political arena, October 18 is now the target deadline to reach a debt-ceiling agreement and avert a government shutdown. Ahead of the open, S&P 500 futures contracts are up 0.5% and the 10-year yield is at 1.51%. The economic calendar is relatively light as we head into quarter-end, but Fed Chairman Powell will continue to present on Capitol Hill with the House Financial Services Committee on Thursday.

Chris Eckhoff
Associate, Investment Management Group

9/29/2021MBA Mortgage Applications-1.10%4.90%
9/29/2021Pending Home Sales MoM1.40%-1.80%
9/29/2021Pending Home Sales NSA YoY-13.80%-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 Paid78.579.4
10/1/2021ISM New Orders6366.7
10/1/2021ISM Employment49
10/1/2021Wards Total Vehicle Sales13.00m13.06m

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