No News is Good News
No News is Good News
Bonds were initially a hair weaker overnight but reversed course starting around 7am ET as oil prices fell. On the other hand, oil had already begun moving lower earlier in the overnight session without a proportional response in bonds. In other words, there was some extra oomph behind the 7am move. This could be as simple as different traders being awake and tuned-in at different times of day, but could also suggest large money managers buying the dip (in both stocks and bonds) amid an absence of additional negative news on the Iran war.
More War. More Selling
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Wednesday, Sep 02 | |||||
| 7:00AM | Aug/28 Mortgage Market Index | Aug/28 | 247.3 | 245.3 | |
| 7:00AM | Aug/28 MBA Purchase Index | Aug/28 | 157.8 | 154.4 | |
| 7:00AM | Aug/28 MBA Refi Index | Aug/28 | 732.6 | 740.8 | |
| 8:15AM | Aug ADP jobs (k) | Aug | 38K | 47K | 44K |
| 10:00AM | Jul Factory orders mm (%) | Jul | 0.9% | 0.6% | -0.3% |
| 10:30AM | Aug/28 Crude Oil Inventory (ml) | Aug/28 | -4.45M | -1.1M | 0.095M |
| 2:00PM | Fed Beige Book | ||||
| Thursday, Sep 03 | |||||
| 5:30AM | Aug Challenger layoffs (k) | Aug | 33.429K | ||
| 8:30AM | Aug/22 Continued Claims (k) | Aug/22 | 1778K | ||
| 8:30AM | Q2 Unit Labour Costs QoQ Final | Q2 | 1.3% | 1.3% | |
| 8:30AM | Aug/29 Jobless Claims (k) | Aug/29 | 205K | 203K | |
| 8:30AM | Jul Trade Gap (bl) | Jul | $-90B | $-73.3B | |
| 8:30AM | Fed Waller Speech | ||||
| 9:45AM | Aug S&P Global Composite PMI | Aug | 56.0 | 54.5 | |
| 9:45AM | Aug S&P Global Services PMI | Aug | 56.8 | 54.6 | |
| 10:00AM | Aug ISM Services Prices | Aug | 70.3 | ||
| 10:00AM | Aug ISM Biz Activity | Aug | 59.1 | ||
| 10:00AM | Aug ISM Services Employment | Aug | 47.4 | ||
| 10:00AM | Aug ISM N-Mfg PMI | Aug | 54.3 | 54.1 | |
| 10:00AM | Aug ISM Services New Orders | Aug | 57.2 | ||
| 3:00PM | Fed Hammack Speech | ||||
