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
Date | Event | Survey | Actual | Prior | Revised |
9/3/2019 | Markit US Manufacturing PMI | 50 | — | 49.9 | — |
9/3/2019 | ISM Manufacturing | 51.3 | — | 51.2 | — |
9/3/2019 | ISM Employment | — | — | 51.7 | — |
9/3/2019 | ISM Prices Paid | 46.8 | — | 45.1 | — |
9/3/2019 | ISM New Orders | 50.5 | — | 50.8 | — |
9/3/2019 | Construction Spending MoM | 0.30% | — | -1.30% | — |
9/3/2019 | Revisions: Construction Spending | ||||
9/4/2019 | MBA Mortgage Applications | — | — | -6.20% | — |
9/4/2019 | Trade Balance | -$53.4b | — | -$55.2b | — |
9/4/2019 | U.S. Federal Reserve Releases Beige Book | ||||
9/4/2019 | Wards Total Vehicle Sales | 16.80m | — | 16.82m | — |
9/5/2019 | Challenger Job Cuts YoY | — | — | 43.20% | — |
9/5/2019 | ADP Employment Change | 149k | — | 156k | — |
9/5/2019 | Nonfarm Productivity | 2.20% | — | 2.30% | — |
9/5/2019 | Unit Labor Costs | 2.40% | — | 2.40% | — |
9/5/2019 | Initial Jobless Claims | 215k | — | 215k | — |
9/5/2019 | Continuing Claims | 1688k | — | 1698k | — |
9/5/2019 | Bloomberg Consumer Comfort | — | — | 62.5 | — |
9/5/2019 | Markit US Services PMI | 50.9 | — | 50.9 | — |
9/5/2019 | Markit US Composite PMI | — | — | 50.9 | — |
9/5/2019 | Factory Orders | 1.00% | — | 0.60% | — |
9/5/2019 | Factory Orders Ex Trans | — | — | 0.10% | — |
9/5/2019 | Durable Goods Orders | 2.10% | — | 2.10% | — |
9/5/2019 | Durables Ex Transportation | -0.40% | — | -0.40% | — |
9/5/2019 | Cap Goods Orders Nondef Ex Air | — | — | 0.40% | — |
9/5/2019 | Cap Goods Ship Nondef Ex Air | — | — | -0.70% | — |
9/5/2019 | ISM Non-Manufacturing Index | 54 | — | 53.7 | — |
9/6/2019 | Change in Nonfarm Payrolls | 160k | — | 164k | — |
9/6/2019 | Two-Month Payroll Net Revision | — | — | -41k | — |
9/6/2019 | Change in Private Payrolls | 150k | — | 148k | — |
9/6/2019 | Change in Manufact. Payrolls | 5k | — | 16k | — |
9/6/2019 | Unemployment Rate | 3.70% | — | 3.70% | — |
9/6/2019 | Average Hourly Earnings MoM | 0.30% | — | 0.30% | — |
9/6/2019 | Average Hourly Earnings YoY | 3.00% | — | 3.20% | — |
9/6/2019 | Average Weekly Hours All Employees | 34.4 | — | 34.3 | — |
9/6/2019 | Labor Force Participation Rate | — | — | 63.00% | — |
9/6/2019 | Underemployment Rate | — | — | 7.00% | — |
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