10-Year Treasury Yield
U.S. Treasury yields declined on Monday as investors looked ahead to the Federal Reserve policy meeting and economic data scheduled for this week. The yield on the 10-year Treasury was down more than 3 basis points to 4.636%. The 2-year Treasury yield was last almost two basis points lower to 4.985%. Yields and prices move in opposite directions. One basis point equals 0.01%.
ECI Sales
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Shiller Home Sales
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FHFA Inventories
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Chicagp PMI Manufaturing Index
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ISM Manufacturing Index
Economic activity in the manufacturing sector contracted in April 2024 after one month of expansion following 16 consecutive months of contraction, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®. "The Manufacturing PMI® registered 49.2 percent in April 2024, down 1.1 percentage points from the 50.3 percent recorded in March. The overall economy continued in expansion for the 48th month after one month of contraction in April 2020. (A Manufacturing PMI® above 42.5 percent, over a period of time, generally indicates an expansion of the overall economy
MBA Purchase Applications
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ADP -
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PMI Magf Dinal
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PMI Composite Final
The S&P Global US Composite PMI eased to 51.3 in April 2024 from 52.1 in the previous month, pointing to a softer expansion in the country’s private sector activity, but revised higher from the flash estimate of 50.9. The slower growth in activity was carried by the services sector (51.3 vs 51.7 in March), offsetting a stall in the manufacturing sector (50 vs 51.9). New business at the aggregate level declined for the first time in six months amid renewed contractions in both factories and service providers, although manufacturers noted a fresh uptick in new business from abroad. Still, lower backlogs allowed both sectors to notch slight expansions in output. In the meantime, employment decreased to end a 45-month sequence of job creation. On the price front, both input costs and output charges slowed. Looking forward, business confidence was also softer, but expectations for the next 12 months remained in the positive territory.
Cosntruction Spensing
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JOLTS Sales
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FOMC
Fed keeps rates steady as it notes ‘lack of further progress’ on inflation. The Federal Reserve held its ground on interest rates, again deciding not to cut as it continues a battle with inflation that has grown more difficult lately. The federal funds rate has been between 5.25%-5.50% since July 2023, when the Fed last hiked and took the range to its highest level in more than two decades. “The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent,” the Fed’s statement said.
Jobless Claims
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International Trade Goods
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Productivyt abd Cost Inv Adv
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Employment
U.S. job growth totaled 175,000 in April, much less than expected, while unemployment rose to 3.9%. Nonfarm payrolls increased by 175,000 on the month, below the 240,000 estimate from the Dow Jones consensus. The unemployment rate ticked higher to 3.9% against expectations it would hold steady at 3.8%. A more encompassing jobless rate edged up, to 7.4%, its highest level since November 2021. Consistent with recent trends, health care led job creation, with a 56,000 rise. Other sectors showing significant increases included social assistance (31,000), transportation and warehousing (22,000), and retail (20,000). Following the report, traders priced in a strong chance of two interest rate cuts by the end of 2024.
Mortgage Rates
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PMI Composite
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ISM Service PCE
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