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Treasuries are roughly 1 bps lower across the curve following the selloff in risk assets, the Nikkei fell 1.2% while the EURO Stoxx 50 fell 1%. German PPI came in better than expected, increasing year over year by 2.3%, but this positive news did little to sway the market as investors kept their eyes on other macro risks. Today is light in terms of economic releases, with the University of Michigan’s consumer sentiment index being the only data release on the docket. The median forecast number is 94 a slight uptick from last month’s reading of 93.4. Consumer sentiment has steadily declined from the high in January to the lowest level since October of last year as the stalemate in Washington has eroded the confidence that many consumers felt post-election.
Hafizan Hamzah
Director, Investment Management Group
Indicators
| Date | Time | Event | Survey | Actual | Prior | Revised | |
|---|---|---|---|---|---|---|---|
| 08/15/2017 | 08:30 | Import Price Index MoM | Jul | 0.10% | 0.10% | -0.20% | — |
| 08/15/2017 | 08:30 | Import Price Index ex Petroleum MoM | Jul | 0.10% | 0.00% | 0.10% | — |
| 08/15/2017 | 08:30 | Import Price Index YoY | Jul | 1.50% | 1.50% | 1.50% | — |
| 08/15/2017 | 08:30 | Export Price Index MoM | Jul | 0.20% | 0.40% | -0.20% | — |
| 08/15/2017 | 08:30 | Export Price Index YoY | Jul | — | 0.80% | 0.60% | — |
| 08/15/2017 | 08:30 | Empire Manufacturing | Aug | 10 | 25.2 | 9.8 | — |
| 08/15/2017 | 08:30 | Retail Sales Advance MoM | Jul | 0.30% | 0.60% | -0.20% | 0.30% |
| 08/15/2017 | 08:30 | Retail Sales Ex Auto MoM | Jul | 0.30% | 0.50% | -0.20% | 0.10% |
| 08/15/2017 | 08:30 | Retail Sales Ex Auto and Gas | Jul | 0.40% | 0.50% | -0.10% | 0.30% |
| 08/15/2017 | 08:30 | Retail Sales Control Group | Jul | 0.40% | 0.60% | -0.10% | 0.10% |
| 08/15/2017 | 10:00 | NAHB Housing Market Index | Aug | 64 | 68 | 64 | — |
| 08/15/2017 | 10:00 | Business Inventories | Jun | 0.40% | 0.50% | 0.30% | — |
| 08/15/2017 | 16:00 | Total Net TIC Flows | Jun | — | $7.7b | $57.3b | $54.7b |
| 08/15/2017 | 16:00 | Net Long-term TIC Flows | Jun | — | $34.4b | $91.9b | — |
| 08/16/2017 | 07:00 | MBA Mortgage Applications | 11-Aug | — | 0.10% | 3.00% | — |
| 08/16/2017 | 08:30 | Housing Starts | Jul | 1220k | 1155k | 1215k | 1213k |
| 08/16/2017 | 08:30 | Housing Starts MoM | Jul | 0.40% | -4.80% | 8.30% | 7.40% |
| 08/16/2017 | 08:30 | Building Permits | Jul | 1250k | 1223k | 1254k | 1275k |
| 08/16/2017 | 08:30 | Building Permits MoM | Jul | -2.00% | -4.10% | 7.40% | 9.20% |
| 08/16/2017 | 14:00 | FOMC Meeting Minutes | 26-Jul | — | — | — | — |
| 08/17/2017 | 08:30 | Initial Jobless Claims | 12-Aug | 240k | 232k | 244k | — |
| 08/17/2017 | 08:30 | Continuing Claims | 05-Aug | 1955k | 1953k | 1951k | 1956k |
| 08/17/2017 | 08:30 | Philadelphia Fed Business Outlook | Aug | 18 | 18.9 | 19.5 | — |
| 08/17/2017 | 08:51 | Industrial Production MoM | Jul | 0.30% | 0.20% | 0.40% | — |
| 08/17/2017 | 08:51 | Capacity Utilization | Jul | 76.70% | 76.70% | 76.60% | 76.70% |
| 08/17/2017 | 08:51 | Manufacturing (SIC) Production | Jul | 0.20% | -0.10% | 0.20% | — |
| 08/17/2017 | 09:45 | Bloomberg Consumer Comfort | 13-Aug | — | 52.1 | 51.4 | — |
| 08/17/2017 | 09:45 | Bloomberg Economic Expectations | Aug | — | 54 | 47 | — |
| 08/17/2017 | 10:00 | Leading Index | Jul | 0.30% | 0.30% | 0.60% | — |
| 08/18/2017 | 10:00 | U. of Mich. Sentiment | Aug P | 94 | 97.6 | 93.4 | — |
| 08/18/2017 | 10:00 | U. of Mich. Current Conditions | Aug P | 112.9 | 111 | 113.4 | — |
| 08/18/2017 | 10:00 | U. of Mich. Expectations | Aug P | 81.5 | 89 | 80.5 | — |
| 08/18/2017 | 10:00 | U. of Mich. 1 Yr Inflation | Aug P | — | 2.60% | 2.60% | — |
| 08/18/2017 | 10:00 | U. of Mich. 5-10 Yr Inflation | Aug P | — | 2.50% | 2.60% | — |
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