April 9, 2020 Headlines

Equity futures were lower in the overnight session but have rebounded this morning following the Fed’s announcement of an additional $2.3 trillion of lending support. The central bank will expand facilities for corporate, municipal, and asset-backed debt, as well as establish additional support for small and mid-sized businesses. The latter includes the creation of a $600 billion Main Street Lending Program, which will purchase eligible loans for companies up to 10,000 employees or $2.5 billion in annual revenue (loans sizes may range from $1 million to $150 million). A new $500 billion municipal facility is also being created to purchase short-term notes from states and counties with more than 2 million residents and municipalities with more than 1 million residents. Any facilities that involve credit risk will continue to be capitalized by the Treasury Department to absorb any potential losses. In short, the Fed is doing everything in its power to ensure that a healthcare crisis doesn’t become a credit crisis while the economy is on lockdown. Fed Chair Jerome Powell will be participating in Brookings Institute webinar this morning.

Jason Haley
Chief Investment Officer

DateEventSurveyActualPriorRevised
4/9/2020PPI Final Demand MoM-0.40%-0.20%-0.60%
4/9/2020PPI Ex Food and Energy MoM0.00%0.20%-0.30%
4/9/2020PPI Ex Food, Energy, Trade MoM0.00%-0.20%-0.10%
4/9/2020PPI Final Demand YoY0.50%0.70%1.30%
4/9/2020PPI Ex Food and Energy YoY1.20%1.40%1.40%
4/9/2020PPI Ex Food, Energy, Trade YoY1.30%1.00%1.40%
4/9/2020Initial Jobless Claims5500k6606k6648k6867k
4/9/2020Continuing Claims8236k7455k3029k3059k
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 Conditions84.1103.7
4/9/2020U. of Mich. Expectations60.779.7
4/9/2020U. of Mich. 1 Yr Inflation2.20%
4/9/2020U. of Mich. 5-10 Yr Inflation2.30%

 

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.