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More Peace Deal Hope, More Overnight Gains
More Peace Deal Hope, More Overnight Gains
Bonds and oil rallied again in the overnight session, though not as swiftly as they did yesterday. News was thinner, but there was still an obvious catalyst just before 3am with a WSJ report that the U.S. provided Iran a detailed framework to end the war. The line item that caught the market's attention was a change in the moratorium on uranium enrichment. Previously, it was permanent, but the new framework calls for 20 years. 10yr yields rallied several bps on the news and oil prices moved down about 4 dollars. There hasn't been much volatility in bonds since then with 8:30am data proving to be a non-event.
Pre-Market Gains Stuck Around All Day
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Thursday, May 07 | |||||
| 5:30AM | Apr Challenger layoffs (k) | Apr | 83.387K | 60.62K | |
| 8:30AM | Apr/25 Continued Claims (k) | Apr/25 | 1766K | 1800K | 1785K |
| 8:30AM | Q1 Unit Labour Costs QoQ Final | Q1 | 2.3% | 2.6% | 4.4% |
| 8:30AM | May/02 Jobless Claims (k) | May/02 | 200K | 205K | 189K |
| 10:00AM | Feb Construction spending (%) | Feb | -0.2% | -0.3% | |
| 10:00AM | Mar Construction spending (%) | Mar | 0.6% | 0.2% | -0.2% |
| 10:20AM | NY Fed Bill Purchases 1 to 4 months (%) | $7.585 billion | |||
| 11:00AM | Apr Consumer Inflation Expectations | Apr | 3.6% | 3.4% | |
| 2:05PM | Fed Hammack Speech | ||||
| 3:00PM | Mar Consumer credit (bl) | Mar | $12.5B | $9.48B | |
| 3:30PM | Fed Williams Speech | ||||
| Friday, May 08 | |||||
| 5:45AM | Fed Cook Speech | ||||
| 8:30AM | Apr Participation Rate | Apr | 61.9% | ||
| 8:30AM | Apr Average earnings mm (%) | Apr | 0.3% | 0.2% | |
| 8:30AM | Apr Unemployment rate mm (%) | Apr | 4.3% | 4.3% | |
| 8:30AM | Apr Non Farm Payrolls (k) | Apr | 62K | 178K | |
| 10:00AM | May Consumer Sentiment (ip) | May | 49.5 | 49.8 | |
| 10:00AM | May U Mich conditions | May | 52 | 52.5 | |
| 10:00AM | May Sentiment: 5y Inflation (%) | May | 3.5% | ||
| 10:00AM | May Sentiment: 1y Inflation (%) | May | 4.7% | ||
| 7:30PM | Fed Daly Speech | ||||
| 7:30PM | Fed Goolsbee Speech | ||||
| 7:30PM | Fed Waller Speech | ||||
| 7:30PM | Fed Bowman Speech | ||||
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