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Weaker Data Endorses the In-Progress Rally
Weaker Data Endorses the In-Progress Rally
Who knows how today would have ended up if the relevant econ data had come in stronger than expected. Perhaps that would have been enough to see an earlier, more threatening sell-off in bonds. As it stands, we're heading out the door with moderate gains, even if we can't give clear credit to the data (because the gains happened before the data). Thursday brings another chance to see if different data (Jobless Claims, Challenger Layoffs, Revelio payrolls) will be worth any more of a response. Otherwise bonds are just grinding out a range ahead of next Wednesday's Fed Day.
Weaker Data Endorses In-Progress Rally
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Thursday, Dec 04 | |||||
| 7:30AM | Nov Challenger layoffs (k) | Nov | 71.321K | 153.074K | |
| 8:30AM | Oct Trade Gap (on hold, shutdown) (bl) | Oct | |||
| 8:30AM | Nov/22 Continued Claims (k) | Nov/22 | 1960K | 1960K | |
| 8:30AM | Nov/29 Jobless Claims (k) | Nov/29 | 220K | 216K | |
| 10:00AM | Sep Factory orders mm (%) | Sep | 0.5% | 1.4% | |
| 12:00PM | Fed Bowman Speech | ||||
| Friday, Dec 05 | |||||
| 10:00AM | Sep Core PCE Inflation (y/y) (%) | Sep | 2.9% | 2.9% | |
| 10:00AM | Sep Personal Income (%) | Sep | 0.4% | 0.4% | |
| 10:00AM | Sep Inflation-Adjusted Spending (Consumption) (%) | Sep | 0.4% | 0.6% | |
| 10:00AM | Sep Core PCE (m/m) (%) | Sep | 0.2% | 0.2% | |
| 10:00AM | Dec U Mich conditions | Dec | 51.3 | 51.1 | |
| 10:00AM | Dec Sentiment: 1y Inflation (%) | Dec | 4.5% | ||
| 10:00AM | Dec Sentiment: 5y Inflation (%) | Dec | 3.4% | ||
| 10:00AM | Oct Factory orders mm (%) | Oct | |||
| 10:00AM | Dec Consumer Sentiment (ip) | Dec | 52 | 51.0 | |
| 3:00PM | Oct Consumer credit (bl) | Oct | $10.5B | $13.09B | |
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