Thursday's Rally Sets Up For a Very Interesting Friday
Thursday's Rally Sets Up For a Very Interesting Friday
Of course we had to have a big, interesting move in the bond market on the day before an economic report also famous for causing big, interesting moves. On such occasions, if Friday delivers on "interesting" it will either negate today's bullishness or add to it in a way that makes today retroactively look like an obvious near-term top in rates. There's no way to know enough about today's rally to conclude that--let alone the unknowable results of the jobs report and the ensuing reaction. All we know: today was a win. If more wins follow, we can talk more about bigger picture supportive ceilings.
Thursday's Rally Sets Up For an Interesting Friday
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Oct 02 | |||||
| 8:30AM | Sep Average earnings mm (%) | Sep | 0.1% | 0.3% | 0.3% |
| 8:30AM | Sep Non Farm Payrolls (k) | Sep | 29K | 90K | 162K |
| 8:30AM | Sep Participation Rate | Sep | 61.8% | 61.6% | |
| 8:30AM | Sep Unemployment rate mm (%) | Sep | 4.2% | 4.1% | 4.1% |
| 10:00AM | Aug Factory orders mm (%) | Aug | 0.1% | 0.1% | 0.9% |
| 10:00AM | Fed Logan Speech | ||||
| Monday, Oct 05 | |||||
| 9:20AM | NY Fed Bill Purchases 4 to 12 months (%) | $1.946 billion | |||
| 9:45AM | Sep S&P Global Services PMI | Sep | 58.7 | 56.5 | |
| 9:45AM | Sep S&P Global Composite PMI | Sep | 58.4 | 56.0 | |
| 10:00AM | Sep ISM N-Mfg PMI | Sep | 55.7 | 55.4 | |
| 10:00AM | Sep ISM Biz Activity | Sep | 61.7 | ||
| 10:00AM | Sep ISM Services Employment | Sep | 47.8 | ||
| 10:00AM | Sep ISM Services Prices | Sep | 72.6 | ||
| 10:00AM | Sep ISM Services New Orders | Sep | 60.9 | ||
