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 |
|---|---|---|---|---|---|
| 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 | ||||
| Thursday, Apr 03 | |||||
| 7:30AM | Mar Challenger layoffs (k) | Mar | 275.24K | 172.017K | |
| 8:30AM | Mar/22 Continued Claims (ml) | Mar/22 | 1,903K | 1860K | 1856K |
| 8:30AM | Feb Trade Gap (bl) | Feb | -122.70B | $-123.5B | $-131.4B |
| 8:30AM | Mar/29 Jobless Claims (k) | Mar/29 | 219K | 225K | 224K |
| 9:45AM | Mar S&P Global Composite PMI | Mar | 53.5 | 51.6 | |
| 9:45AM | Mar S&P Global Services PMI | Mar | 54.3 | 51 | |
| 10:00AM | Mar ISM Services Employment | Mar | 53.9 | ||
| 10:00AM | Mar ISM Services Prices | Mar | 62.6 | ||
| 10:00AM | Mar ISM Biz Activity | Mar | 54.4 | ||
| 10:00AM | Mar ISM N-Mfg PMI | Mar | 53 | 53.5 | |
| 12:30PM | Fed Jefferson Speech | ||||
| 2:30PM | Fed Cook Speech | ||||
