September 3, 2019 Headlines

Treasury prices are slightly higher this morning amid a modest risk-off tone in global markets. European equities are down 25-50 bps, and S&P 500 futures are down 70 bps ahead of the open. While U.S./China trade concerns remain at the forefront, investors are beginning to shift some attention toward a potential hard Brexit next month. A group of British lawmakers is attempting to pass legislation that would block a “No Deal” Brexit, which would involve an immediate withdrawal from the European Union with no terms for the break up. If these lawmakers are successful, new PM Boris Johnson has threatened to call for snap elections in an effort to ov. A rushed Brexit and the potential for snap elections brings more uncertainty to the situation, which is a negative for financial markets. 

Jason Haley
Managing Director, Investment Management Group

DateEventSurveyActualPriorRevised
9/3/2019Markit US Manufacturing PMI50—49.9—
9/3/2019ISM Manufacturing51.3—51.2—
9/3/2019ISM Employment——51.7—
9/3/2019ISM Prices Paid46.8—45.1—
9/3/2019ISM New Orders50.5—50.8—
9/3/2019Construction Spending MoM0.30%—-1.30%—
9/3/2019Revisions: Construction Spending
9/4/2019MBA Mortgage Applications——-6.20%—
9/4/2019Trade Balance-$53.4b—-$55.2b—
9/4/2019U.S. Federal Reserve Releases Beige Book
9/4/2019Wards Total Vehicle Sales16.80m—16.82m—
9/5/2019Challenger Job Cuts YoY——43.20%—
9/5/2019ADP Employment Change149k—156k—
9/5/2019Nonfarm Productivity2.20%—2.30%—
9/5/2019Unit Labor Costs2.40%—2.40%—
9/5/2019Initial Jobless Claims215k—215k—
9/5/2019Continuing Claims1688k—1698k—
9/5/2019Bloomberg Consumer Comfort——62.5—
9/5/2019Markit US Services PMI50.9—50.9—
9/5/2019Markit US Composite PMI——50.9—
9/5/2019Factory Orders1.00%—0.60%—
9/5/2019Factory Orders Ex Trans——0.10%—
9/5/2019Durable Goods Orders2.10%—2.10%—
9/5/2019Durables Ex Transportation-0.40%—-0.40%—
9/5/2019Cap Goods Orders Nondef Ex Air——0.40%—
9/5/2019Cap Goods Ship Nondef Ex Air——-0.70%—
9/5/2019ISM Non-Manufacturing Index54—53.7—
9/6/2019Change in Nonfarm Payrolls160k—164k—
9/6/2019Two-Month Payroll Net Revision——-41k—
9/6/2019Change in Private Payrolls150k—148k—
9/6/2019Change in Manufact. Payrolls5k—16k—
9/6/2019Unemployment Rate3.70%—3.70%—
9/6/2019Average Hourly Earnings MoM0.30%—0.30%—
9/6/2019Average Hourly Earnings YoY3.00%—3.20%—
9/6/2019Average Weekly Hours All Employees34.4—34.3—
9/6/2019Labor Force Participation Rate——63.00%—
9/6/2019Underemployment Rate——7.00%—

 

 

 

 

 

 

 

 

 

 

 

 

 

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