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Ultimately Underwhelming Despite Seemingly Significant Data
Ultimately Underwhelming Despite Seemingly Significant Data
There was certainly the potential for volatility today with the confluence of ADP, ISM, and Job Openings data. But the results ended up being close enough to consensus to obviate any massive reactions. Yields hit their lowest levels in a week after ADP came in slightly softer, but most of the rally was already in place from the overnight session. Stronger ISM and job openings pushed bonds back in the other direction, but not enough to result in bond market losses or negative reprices.
Ultimately Underwhelming Despite Seemingly Significant Data
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Thursday, Jan 08 | |||||
| 5:30AM | Dec Challenger layoffs (k) | Dec | 35.553K | 71.321K | |
| 8:30AM | Oct Trade Gap (bl) | Oct | $-29.4B | $-58.9B | $-52.8B |
| 8:30AM | Jan/03 Jobless Claims (k) | Jan/03 | 208K | 210K | 199K |
| 8:30AM | Dec/27 Continued Claims (k) | Dec/27 | 1914K | 1900K | 1866K |
| 9:20AM | NY Fed Bill Purchases 1 to 4 months (%) | $8.165 million | |||
| 11:00AM | Dec Consumer Inflation Expectations | Dec | 3.4% | 3.2% | |
| 3:00PM | Nov Consumer credit (bl) | Nov | $4.23B | $10B | $9.18B |
| Friday, Jan 09 | |||||
| 8:30AM | Dec Participation Rate | Dec | 62.5% | ||
| 8:30AM | Dec Average earnings mm (%) | Dec | 0.3% | 0.1% | |
| 8:30AM | Dec Non Farm Payrolls (k) | Dec | 60K | 64K | |
| 8:30AM | Dec Unemployment rate mm (%) | Dec | 4.5% | 4.6% | |
| 10:00AM | Jan Sentiment: 5y Inflation (%) | Jan | 3.2% | ||
| 10:00AM | Jan Sentiment: 1y Inflation (%) | Jan | 4.2% | ||
| 10:00AM | Jan U Mich conditions | Jan | 50.4 | ||
| 10:00AM | Jan Consumer Sentiment (ip) | Jan | 53.5 | 52.9 | |
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