JOLTS Data Bringing The Buyers
JOLTS Data Bringing The Buyers
Bonds were flat to just slightly stronger in the overnight session but a noticeable rally is underway following the JOLTS data (job openings and labor turnover survey). This is a new cycle low for job openings, just barely dropping below the level reported in April 2025 (for March). MBS have gained about an eighth of a point since the data came out and 10yr yields dropped about 3 bps to 4.226. Before the data, friendly Fed comments were already starting to help bonds push the best levels of the morning.
Still in The Range as Bonds Wait For Bigger Influences
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Wednesday, Sep 03 | |||||
| 7:00AM | Aug/29 MBA Purchase Index | Aug/29 | 158.7 | 163.8 | |
| 7:00AM | Aug/29 MBA Refi Index | Aug/29 | 902.5 | 894.1 | |
| 9:00AM | Fed Musalem Speech | ||||
| 10:00AM | Jul Factory orders mm (%) | Jul | -1.3% | -1.4% | -4.8% |
| 10:00AM | Jul JOLTs Job Quits (ml) | Jul | 3.208M | 3.142M | |
| 10:00AM | Jul USA JOLTS Job Openings (ml) | Jul | 7.181M | 7.4M | 7.437M |
| 1:30PM | Fed Kashkari Speech | ||||
| 2:00PM | Fed Beige Book | ||||
| 6:00PM | Aug Total Vehicle Sales (ml) | Aug | 16.1M | 16.1M | 16.4M |
| Thursday, Sep 04 | |||||
| 7:30AM | Aug Challenger layoffs (k) | Aug | 85.979K | 62.075K | |
| 8:15AM | Aug ADP jobs (k) | Aug | 54K | 65K | 104K |
| 8:30AM | Jul Trade Gap (bl) | Jul | $-78.3B | $-75.7B | $-60.2B |
| 8:30AM | Q2 Unit Labour Costs QoQ Final | Q2 | 1% | 1.2% | 6.9% |
| 8:30AM | Aug/23 Continued Claims (k) | Aug/23 | 1940K | 1960K | 1954K |
| 8:30AM | Aug/30 Jobless Claims (k) | Aug/30 | 237K | 230K | 229K |
| 9:45AM | Aug S&P Global Services PMI | Aug | 54.5 | 55.4 | 55.7 |
| 9:45AM | Aug S&P Global Composite PMI | Aug | 54.6 | 55.4 | 55.1 |
| 10:00AM | Aug ISM Services Employment | Aug | 46.5 | 46.4 | |
| 10:00AM | Aug ISM Biz Activity | Aug | 55.0 | 53 | 52.6 |
| 10:00AM | Aug ISM Services New Orders | Aug | 56.0 | 50.3 | |
| 10:00AM | Aug ISM Services Prices | Aug | 69.2 | 69.9 | |
| 10:00AM | Aug ISM N-Mfg PMI | Aug | 52.0 | 51 | 50.1 |
| 12:00PM | Aug/29 Crude Oil Inventory (ml) | Aug/29 | 2.415M | -1.8M | -2.392M |
| 12:05PM | Fed Williams Speech | ||||
| 7:00PM | Fed Goolsbee Speech | ||||
