April 8, 2020 Headlines

The White House began developing plans overnight that would restart the economy after the costly social distancing campaign. Initial reports have stated that the plan revolves around expanding current testing capabilities and would focus on smaller cities and towns in states that have limited infections. Additionally, New York is showing positive signs that the outbreak has plateaued. Yesterday’s risk-on trade continued with S&P 500 futures up 1.31% ahead of the open. The US Treasury yield curve bear steepened with short-term rates unchanged and 10-year yields 4bps higher. 

Chris Eckhoff
Associate, Investment Management Group

4/7/2020NFIB Small Business Optimism96.4104.5
4/7/2020JOLTS Job Openings6500688269637012
4/7/2020Consumer Credit$14.000b$22.331b$12.021b$12.060b
4/8/2020MBA Mortgage Applications-17.90%15.30%
4/8/2020Bloomberg Consumer Comfort49.956.3
4/8/2020FOMC Meeting Minutes
4/9/2020PPI Final Demand MoM-0.40%-0.60%
4/9/2020PPI Ex Food and Energy MoM0.00%-0.30%
4/9/2020PPI Ex Food, Energy, Trade MoM0.00%-0.10%
4/9/2020PPI Final Demand YoY0.50%1.30%
4/9/2020PPI Ex Food and Energy YoY1.20%1.40%
4/9/2020PPI Ex Food, Energy, Trade YoY1.40%
4/9/2020Initial Jobless Claims5250k6648k
4/9/2020Continuing Claims3029k
4/9/2020Wholesale Inventories MoM-0.50%-0.50%
4/9/2020Wholesale Trade Sales MoM1.60%
4/9/2020U. of Mich. Sentiment7589.1
4/9/2020U. of Mich. Current Conditions103.7
4/9/2020U. of Mich. Expectations79.7
4/9/2020U. of Mich. 1 Yr Inflation2.20%
4/9/2020U. of Mich. 5-10 Yr Inflation2.30%
4/10/2020CPI MoM-0.30%0.10%
4/10/2020CPI Ex Food and Energy MoM0.10%0.20%
4/10/2020CPI YoY1.60%2.30%
4/10/2020CPI Ex Food and Energy YoY2.30%2.40%
4/10/2020CPI Index NSA258.2258.678
4/10/2020CPI Core Index SA266.8267.07
4/10/2020Real Avg Hourly Earning YoY0.60%
4/10/2020Real Avg Weekly Earnings YoY0.70%0.60%
4/10/2020Bloomberg April United States Economic Survey
4/10/2020Monthly Budget Statement-$120.0b-$235.3b


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