Market Analysis

The bond market improved today despite a better than expected manufacturing sector report and strength in the stock market. Below is a recap of this week’s economic calendar.

Monday, January 4, 2010

December Institute of Supply Management (ISM) Manufacturing Sector index – Value of 55.9 vs expectations of 54.0 and November reading of 53.6.

November Construction Spending – down .6% vs expectations of a .1% decline and an October decline of .5%.

Tuesday, January 5, 2010

November Factory Orders – expected .5% increase vs a .6% increase in October.

November Pending Home Sales – expected 2% decline vs a 3.7% increase in October.

Wednesday, January 6, 2010

December ADP Employment Report – expected losses of 75,000 private sector jobs vs 169,000 in November

December ISM Service Sector Index – expected 50.5 reading vs 48.7 in November

Thursday, January 7, 2010

Initial Jobless Claims for the week ended 1/2/10 – expected increase of 13,000 claims vs decrease in claims of 22,000 for week ended 12/26/09.

Continuing Jobless Claims for the week ended 1/2/10 – expected increase of 59,000 claims vs decrease in continuing claims of 57,000 for week ended 12/26/09.

Friday, January 8, 2010

December Nonfarm Payroll Report – expected public and private sector job losses of 20,000 and an unemployment rate of 10.1%.

November Wholesale Inventories – expected decrease of .3% vs October increase of .3%.

November Consumer Credit Outstanding – expected decrease of $5 billion vs October decrease of $3.5 billion.