September 7, 2021 Headlines

New supply expected this week from the U.S. and Europe (government and corporate debt) is pushing bond yields 1-5 basis points higher across the curve this morning, but U.S. equity index futures are little changed ahead of the open. Enhanced federal unemployment benefits initiated as an emergency Covid response expire this week. News reports suggest that more than 7.5 million Americans will be losing the extra $300 per week payments. This week’s economic calendar is relatively light from a data perspective, but several regional Fed presidents will be speaking. The regional presidents have been more hawkish in recent weeks, particularly as it relates to tapering, relative to their Washington-based colleagues, including Fed Chair Powell. The Treasury Department will be issuing new 3-year, 10-year, and 30-year debt this week, beginning with $58 billion of 3-year notes today.

Jason Haley
Chief Investment Officer

Date Event Surv(M) Actual Prior Revised
09/08/21 MBA Mortgage Applications — — -2.40% —
09/08/21 JOLTS Job Openings 10000k — 10073k —
09/08/21 U.S. Federal Reserve Releases Beige Book
09/08/21 Consumer Credit $25.000b — $37.690b —
09/09/21 Initial Jobless Claims 335k — 340k —
09/09/21 Continuing Claims 2720k — 2748k —
09/09/21 Langer Consumer Comfort — — 58.2 —
09/10/21 PPI Final Demand MoM 0.60% — 1.00% —
09/10/21 PPI Ex Food and Energy MoM 0.50% — 1.00% —
09/10/21 PPI Ex Food, Energy, Trade MoM 0.60% — 0.90% —
09/10/21 PPI Final Demand YoY 8.20% — 7.80% —
09/10/21 PPI Ex Food and Energy YoY 6.60% — 6.20% —
09/10/21 PPI Ex Food, Energy, Trade YoY 6.30% — 6.10% —
09/10/21 Bloomberg Sept. United States Economic Survey
09/10/21 Wholesale Inventories MoM 0.60% — 0.60% —
09/10/21 Wholesale Trade Sales MoM — — 2.00% —

 

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