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Data Helped, But Wild Cards Remain on Deck
Data Helped, But Wild Cards Remain on Deck
This morning's economic data wasn't immediately and obviously worthy of credit for the bond rally that followed, largely because the bond rally that followed was fairly small. Most of the day's gains were in place beforehand. The data (lower ISM/employment, job openings, and job quits) helped keep bonds near the stronger end of the day's range, and thus, the stronger end of the 5 week range. There's more data on Wednesday, but the biggest wild card may be the long-awaited tariff announcement in the afternoon.
Data Helped, But Wild Cards Remain on Deck
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Apr 01 | |||||
| 9:45AM | Mar S&P Global Manuf. PMI | Mar | 50.2 | 49.8 | 52.7 |
| 10:00AM | Mar ISM Manufacturing Employment | Mar | 44.7 | 47.6 | |
| 10:00AM | Feb Construction spending (%) | Feb | 0.7% | 0.3% | -0.2% |
| 10:00AM | Feb JOLTs Job Quits (ml) | Feb | 3.195M | 3.266M | |
| 10:00AM | Mar ISM Mfg Prices Paid | Mar | 69.4 | 65 | 62.4 |
| 10:00AM | Feb USA JOLTS Job Openings | Feb | 7.568M | 7.63M | 7.74M |
| 10:00AM | Mar ISM Manufacturing PMI | Mar | 49 | 49.5 | 50.3 |
| 10:40AM | Apr IBD economic optimism | Apr | 49.1 | 50.1 | 49.8 |
| Wednesday, Apr 02 | |||||
| 7:00AM | Mar/28 MBA Refi Index | Mar/28 | 710.4 | 752.4 | |
| 7:00AM | Mar/28 MBA Purchase Index | Mar/28 | 158.2 | 155.8 | |
| 8:15AM | Mar ADP jobs (k) | Mar | 155K | 105K | 77K |
| 9:00AM | Mar Total Vehicle Sales (ml) | Mar | 17.77M | 15.9M | 16.0M |
| 10:00AM | Feb Factory orders mm (%) | Feb | 0.6% | 0.5% | 1.7% |
| 10:30AM | Mar/28 Crude Oil Inventory (ml) | Mar/28 | 6.165M | -2M | -3.341M |
| 11:30AM | 17-Week Bill Auction | 4.200% | 4.200% | ||
| 4:00PM | Reciprocal Tariff Plan Announcement (%) | ||||
| 4:30PM | Fed Kugler Speech | ||||
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