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


08/15/201708:30Import Price Index MoMJul0.10%0.10%-0.20%
08/15/201708:30Import Price Index ex Petroleum MoMJul0.10%0.00%0.10%
08/15/201708:30Import Price Index YoYJul1.50%1.50%1.50%
08/15/201708:30Export Price Index MoMJul0.20%0.40%-0.20%
08/15/201708:30Export Price Index YoYJul0.80%0.60%
08/15/201708:30Empire ManufacturingAug1025.29.8
08/15/201708:30Retail Sales Advance MoMJul0.30%0.60%-0.20%0.30%
08/15/201708:30Retail Sales Ex Auto MoMJul0.30%0.50%-0.20%0.10%
08/15/201708:30Retail Sales Ex Auto and GasJul0.40%0.50%-0.10%0.30%
08/15/201708:30Retail Sales Control GroupJul0.40%0.60%-0.10%0.10%
08/15/201710:00NAHB Housing Market IndexAug646864
08/15/201710:00Business InventoriesJun0.40%0.50%0.30%
08/15/201716:00Total Net TIC FlowsJun$7.7b$57.3b$54.7b
08/15/201716:00Net Long-term TIC FlowsJun$34.4b$91.9b
08/16/201707:00MBA Mortgage Applications11-Aug0.10%3.00%
08/16/201708:30Housing StartsJul1220k1155k1215k1213k
08/16/201708:30Housing Starts MoMJul0.40%-4.80%8.30%7.40%
08/16/201708:30Building PermitsJul1250k1223k1254k1275k
08/16/201708:30Building Permits MoMJul-2.00%-4.10%7.40%9.20%
08/16/201714:00FOMC Meeting Minutes26-Jul
08/17/201708:30Initial Jobless Claims12-Aug240k232k244k
08/17/201708:30Continuing Claims05-Aug1955k1953k1951k1956k
08/17/201708:30Philadelphia Fed Business OutlookAug1818.919.5
08/17/201708:51Industrial Production MoMJul0.30%0.20%0.40%
08/17/201708:51Capacity UtilizationJul76.70%76.70%76.60%76.70%
08/17/201708:51Manufacturing (SIC) ProductionJul0.20%-0.10%0.20%
08/17/201709:45Bloomberg Consumer Comfort13-Aug52.151.4
08/17/201709:45Bloomberg Economic ExpectationsAug5447
08/17/201710:00Leading IndexJul0.30%0.30%0.60%
08/18/201710:00U. of Mich. SentimentAug P9497.693.4
08/18/201710:00U. of Mich. Current ConditionsAug P112.9111113.4
08/18/201710:00U. of Mich. ExpectationsAug P81.58980.5
08/18/201710:00U. of Mich. 1 Yr InflationAug P2.60%2.60%
08/18/201710:00U. of Mich. 5-10 Yr InflationAug P2.50%2.60%