April 24, 2020 Headlines

The Treasury curve is essentially unchanged this morning while equity futures point to an opening in positive territory spurred by a $484 billion stimulus passed by Congress yesterday. Oil has rebounded somewhat after its rough start to the week with WTI hovering around $17 a barrel. The recent equity rally has started to lose steam as the recent spate of economic data points to a severe slow down. US durable orders came out this morning revealing the sharpest decline since 2014, falling by 14.4%. Much of the decline can be traced to a civilian aircraft, which fell by 300%. Core capital goods, which excludes more volatile assets like aircraft and military hardware, increased by 0.1%. Later this morning the University of Michigan will release its consumer sentiment survey which is expected to show reading of 68, a 2 point decline from last month, and would be the lowest level since 2011.

Hafizan Hamzah
Director, Investment Management Group

Date	Event	Survey	Actual	Prior	Revised
4/20/2020	Chicago Fed Nat Activity Index	-3	-4.19	0.16	0.06
4/21/2020	Existing Home Sales	5.25m	5.27m	5.77m	5.76m
4/21/2020	Existing Home Sales MoM	-9.00%	-8.50%	6.50%	6.30%
4/22/2020	MBA Mortgage Applications	—	-0.30%	7.30%	—
4/22/2020	FHFA House Price Index MoM	0.30%	0.70%	0.30%	0.50%
4/23/2020	Initial Jobless Claims	4500k	4427k	5245k	5237k
4/23/2020	Continuing Claims	16738k	15976k	11976k	11912k
4/23/2020	Bloomberg Economic Expectations	—	29	46.5	—
4/23/2020	Bloomberg Consumer Comfort	—	41.4	44.5	—
4/23/2020	Markit US Manufacturing PMI	35	36.9	48.5	—
4/23/2020	Markit US Services PMI	30	27	39.8	—
4/23/2020	Markit US Composite PMI	—	27.4	40.9	—
4/23/2020	New Home Sales	642k	627k	765k	741k
4/23/2020	New Home Sales MoM	-16.10%	-15.40%	-4.40%	-4.60%
4/23/2020	Kansas City Fed Manf. Activity	-37	-30	-17	—
4/24/2020	Durable Goods Orders	-12.00%	-14.40%	1.20%	1.10%
4/24/2020	Durables Ex Transportation	-6.50%	-0.20%	-0.60%	-0.70%
4/24/2020	Cap Goods Orders Nondef Ex Air	-6.70%	0.10%	-0.90%	-0.80%
4/24/2020	Cap Goods Ship Nondef Ex Air	-7.00%	-0.20%	-0.80%	-0.90%
4/24/2020	U. of Mich. Sentiment	68	—	71	—
4/24/2020	U. of Mich. Current Conditions	—	—	72.4	—
4/24/2020	U. of Mich. Expectations	—	—	70	—
4/24/2020	U. of Mich. 1 Yr Inflation	—	—	2.10%	—
4/24/2020	U. of Mich. 5-10 Yr Inflation	—	—	2.50%	—

Subscribe Today!

Subscribe to our email list and get the latest articles and announcements from ALM First.

Recent Articles

September 17, 2021 Headlines September 17, 2021
September 16, 2021 Headlines September 16, 2021
September 15, 2021 Headlines September 15, 2021

ALM First offers investment advisory services through ALM First Financial Advisors, LLC, which is registered with the U.S. Securities and Exchange Commission (“SEC”). SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the firm has attained a particular level of skill or ability. The information contained herein does not constitute investment advice or a recommendation for you to purchase or sell any specific security. You are solely responsible for reviewing the content and for any actions you take or choose not to take based on your review of such content.Information contained herein was derived from third party sources as indicated. While such information is believed to be reliable, no representation or warranty is made concerning the accuracy of any information presented. We have not and will not independently verify this information. Where such sources include opinions and projections, such opinions and projections should be ascribed only to the applicable third party source and not to ALM First.Statements herein that reflect projections or expectations of future financial or economic performance are forward-looking statements. Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct. Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or actual performance. No representation or warranty can be given that the estimates, opinions or assumptions made herein will prove to be accurate. Any projections and forward-looking statements included herein should be considered speculative and are qualified in their entirety by the information and risks disclosed in the confidential offering document. Actual results for any period may or may not approximate such forward-looking statements. No representations or warranties whatsoever are made by ALM First Financial Advisors, LLC or any other person or entity as to the future profitability of investments recommended by ALM First Financial Advisors, LLC.