August 24, 2020 Headlines

Risk assets are rallying to start the week on vaccine/treatment hopes, but Treasuries are little changed from Friday’s close. The FDA announced over the weekend that it is fast-tracking blood plasma treatments for COVID patients, and the Financial Times is reporting that the White House is considering bypassing regulatory standards to accelerate an experimental vaccine. The headline event for financial markets this week is the Fed’s annual Jackson Hole symposium on Thursday and Friday. Fed Chair Powell’s speech on Thursday morning will be the most anticipated.

Jason Haley
Chief Investment Officer

8/24/20Chicago Fed Nat Activity Index3.
8/25/20House Price Purchase Index QoQ1.70%
8/25/20FHFA House Price Index MoM0.30%-0.30%
8/25/20S&P CoreLogic CS 20-City MoM SA0.10%0.04%
8/25/20S&P CoreLogic CS 20-City YoY NSA3.60%3.69%
8/25/20S&P CoreLogic CS 20-City NSA Index224.76
8/25/20S&P CoreLogic CS US HPI YoY NSA4.46%
8/25/20S&P CoreLogic CS US HPI NSA Index218.87
8/25/20Conf. Board Consumer Confidence9392.6
8/25/20Conf. Board Present Situation94.2
8/25/20New Home Sales790k776k
8/25/20Conf. Board Expectations91.5
8/25/20New Home Sales MoM1.80%13.80%
8/25/20Richmond Fed Manufact. Index1010
8/26/20MBA Mortgage Applications-3.30%
8/26/20Durable Goods Orders4.50%7.60%
8/26/20Durables Ex Transportation2.00%3.60%
8/26/20Cap Goods Orders Nondef Ex Air1.90%3.40%
8/26/20Cap Goods Ship Nondef Ex Air2.00%3.30%
8/27/20GDP Annualized QoQ-32.50%-32.90%
8/27/20Personal Consumption-34.60%-34.60%
8/27/20GDP Price Index-1.80%-1.80%
8/27/20Core PCE QoQ-1.10%-1.10%
8/27/20Initial Jobless Claims1000k1106k
8/27/20Continuing Claims14450k14844k
8/27/20Bloomberg Consumer Comfort43.5
8/27/20Pending Home Sales MoM2.00%16.60%
8/27/20Pending Home Sales NSA YoY12.70%
8/27/20Kansas City Fed Manf. Activity53
8/28/20Personal Income-0.30%-1.10%
8/28/20Advance Goods Trade Balance-$72.0b-$70.6b
8/28/20Wholesale Inventories MoM-0.80%-1.40%
8/28/20Personal Spending1.50%5.60%
8/28/20Real Personal Spending1.60%5.20%
8/28/20Retail Inventories MoM-1.00%-2.60%
8/28/20PCE Deflator MoM0.40%0.40%
8/28/20PCE Deflator YoY1.00%0.80%
8/28/20PCE Core Deflator MoM0.50%0.20%
8/28/20PCE Core Deflator YoY1.20%0.90%
8/28/20MNI Chicago PMI52.551.9
8/28/20U. of Mich. Sentiment72.872.8
8/28/20U. of Mich. Current Conditions82.5
8/28/20U. of Mich. Expectations66.5
8/28/20U. of Mich. 1 Yr Inflation3.00%
8/28/20U. of Mich. 5-10 Yr Inflation2.70%




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