April 28, 2020 Headlines

US Treasury yields are 2bps higher across the curve and equity futures are pointing to a higher open (S&P500 +1.4%) as governments begin signaling plans to reopen their economies. Both Spain and France are expected to provide details on easing lockdown restrictions as the number of new infections continue to slow in Europe. In the US, The White House issued a strategy to expand testing for the virus shifting more responsibility to the states and private sector. Later this week, the FOMC will hold its first normally scheduled FOMC meeting since January. While no major policy changes are expected, the focus will remain on guidance and liquidity provisions implemented in response to the virus.

Chris Eckhoff
Associate, Investment Management Group

4/27/2020Revisions: Retail Trade
4/27/2020Dallas Fed Manf. Activity-75-73.7-70
4/28/2020Advance Goods Trade Balance-$55.0b-$64.2b-$59.9b
4/28/2020Wholesale Inventories MoM-0.40%-1.00%-0.70%-0.60%
4/28/2020Retail Inventories MoM0.50%0.90%-0.30%-0.40%
4/28/2020S&P CoreLogic CS 20-City MoM SA0.35%0.45%0.30%0.35%
4/28/2020S&P CoreLogic CS 20-City YoY NSA3.19%3.47%3.08%3.12%
4/28/2020S&P CoreLogic CS 20-City NSA Index219.75218.62218.71
4/28/2020S&P CoreLogic CS US HPI YoY NSA4.10%4.16%3.92%3.88%
4/28/2020S&P CoreLogic CS US HPI NSA Index213.16212.43212.34
4/28/2020Conf. Board Consumer Confidence8786.9120118.8
4/28/2020Conf. Board Expectations93.888.286.8
4/28/2020Conf. Board Present Situation76.4167.7166.7
4/28/2020Richmond Fed Manufact. Index-41-532
4/29/2020MBA Mortgage Applications-0.30%
4/29/2020GDP Annualized QoQ-3.90%2.10%
4/29/2020Personal Consumption-3.50%1.80%
4/29/2020GDP Price Index1.00%1.30%
4/29/2020Core PCE QoQ1.70%1.30%
4/29/2020Pending Home Sales MoM-13.60%2.40%
4/29/2020Pending Home Sales NSA YoY-7.60%11.50%
4/29/2020FOMC Rate Decision (Upper Bound)0.25%0.25%
4/29/2020FOMC Rate Decision (Lower Bound)0.00%0.00%
4/29/2020Interest Rate on Excess Reserves0.10%0.10%
4/30/2020Personal Income-1.50%0.60%
4/30/2020Personal Spending-5.00%0.20%
4/30/2020Real Personal Spending-5.70%0.10%
4/30/2020PCE Deflator MoM-0.30%0.10%
4/30/2020PCE Deflator YoY1.30%1.80%
4/30/2020Initial Jobless Claims3500k4427k
4/30/2020PCE Core Deflator MoM-0.10%0.20%
4/30/2020PCE Core Deflator YoY1.60%1.80%
4/30/2020Continuing Claims19476k15976k
4/30/2020Employment Cost Index0.60%0.70%
4/30/2020MNI Chicago PMI37.747.8
4/30/2020Bloomberg Consumer Comfort41.4
5/1/2020Markit US Manufacturing PMI36.736.9
5/1/2020Construction Spending MoM-3.50%-1.30%
5/1/2020ISM Manufacturing3649.1
5/1/2020ISM New Orders3042.2
5/1/2020ISM Prices Paid3337.4
5/1/2020ISM Employment43.8
5/1/2020Wards Total Vehicle Sales6.50m11.37m


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