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Weaker Conclusion But No Major Big Picture Implications
Weaker Conclusion But No Major Big Picture Implications
Despite much stronger revisions and a modestly stronger core retail sales number this morning, bonds managed to hold mostly sideways until the afternoon hours. At that point, lighter summertime Friday afternoon trading gave way to a mini snowball that took yields to their highest levels of the week. Fed Funds futures suggested some thought behind the selling with the highest implied September rate since just before Tuesday's CPI. All that having been said, bonds could simply be hedging their optimism ahead of next week's Jackson Hole speech from Fed Chair Powell. In the bigger picture, little has changed since last Friday's jobs report.
Weaker Conclusion But No Major Big Picture Implications
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Aug 15 | |||||
| 12:00AM | Roll Date - UMBS 15YR, Ginnie Mae 15YR | ||||
| 8:30AM | Jul Export prices mm (%) | Jul | 0.1% | 0.1% | 0.5% |
| 8:30AM | Jul Import prices mm (%) | Jul | 0.4% | 0% | 0.1% |
| 8:30AM | Jul Retail Sales (ex-autos) (%) | Jul | 0.3% | 0.3% | 0.5% |
| 8:30AM | Aug NY Fed Manufacturing | Aug | 11.90 | 0 | 5.50 |
| 8:30AM | Jul Retail Sales (%) | Jul | 0.5% | 0.5% | 0.6% |
| 8:30AM | Jul Retail Sales Control Group MoM | Jul | 0.5% | 0.4% | 0.5% |
| 9:15AM | Jul Industrial Production (%) | Jul | -0.1% | 0% | 0.3% |
| 10:00AM | Jun Business Inventories (% ) | Jun | 0.2% | 0.2% | 0% |
| 10:00AM | Aug Consumer Sentiment (ip) | Aug | 58.6 | 62 | 61.7 |
| 10:00AM | Aug U Mich conditions | Aug | 60.9 | 67.9 | 68.0 |
| 10:00AM | Aug Sentiment: 5y Inflation (%) | Aug | 3.9% | 3.4% | |
| 10:00AM | Aug Sentiment: 1y Inflation (%) | Aug | 4.9% | 4.5% | |
| 12:00PM | NOPA Crush Report (%) | ||||
| Monday, Aug 18 | |||||
| 10:00AM | Aug NAHB housing market indx | Aug | 33 | 33 | |
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