April 7, 2020 Headlines

Yesterday’s risk-on trade continued overnight in global markets on perception that the COVID-19 crisis in Europe is improving. S&P 500 futures are up 3.3% ahead of the open, and Treasury yields are up 3-9 bps across the curve (2yr/10yr spread +5 bps to 0.46%). President Trump said yesterday that a second round of direct payments to Americans is “absolutely under serious consideration.” Some media outlets are reporting that the White House and Congress are discussing a phase 4 relief package that could total $1.5 trillion. One-month Libor reset another 6 bps lower to 0.86% today following yesterday’s 6 bps decline as money market functionality continues to improve.

Jason Haley
Chief Investment Officer

Date Event Survey Actual Prior Revised
4/7/2020 NFIB Small Business Optimism 96.4 104.5
4/7/2020 JOLTS Job Openings 6500 6882 6963 7012
4/7/2020 Consumer Credit $14.000b $12.021b
4/8/2020 MBA Mortgage Applications 15.30%
4/8/2020 Bloomberg Consumer Comfort 56.3
4/8/2020 FOMC Meeting Minutes
4/9/2020 PPI Final Demand MoM -0.40% -0.60%
4/9/2020 PPI Ex Food and Energy MoM 0.00% -0.30%
4/9/2020 PPI Ex Food, Energy, Trade MoM 0.00% -0.10%
4/9/2020 PPI Final Demand YoY 0.50% 1.30%
4/9/2020 PPI Ex Food and Energy YoY 1.20% 1.40%
4/9/2020 PPI Ex Food, Energy, Trade YoY 1.40%
4/9/2020 Initial Jobless Claims 5000k 6648k
4/9/2020 Continuing Claims 3029k
4/9/2020 Wholesale Inventories MoM -0.50% -0.50%
4/9/2020 Wholesale Trade Sales MoM 1.60%
4/9/2020 U. of Mich. Sentiment 75 89.1
4/9/2020 U. of Mich. Current Conditions 103.7
4/9/2020 U. of Mich. Expectations 79.7
4/9/2020 U. of Mich. 1 Yr Inflation 2.20%
4/9/2020 U. of Mich. 5-10 Yr Inflation 2.30%


Subscribe Today!

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

Recent Articles

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.