December 11, 2020 Headlines

Treasury yields moved lower and flatter overnight with ongoing uncertainty related to a stimulus agreement and Brexit, and U.S. equity futures are down 55-70 bps ahead of the open. British Prime Minister Boris Johnson and the head of the European Commission Ursula von der Leyen both said that a Brexit trade deal is unlikely prior to the U.K. leaving the European Union in three weeks, which has European equity indices down more than 1% today. On a positive note, The FDA’s advisory panel yesterday recommended approval of the Pfizer/BioNTech vaccine, opening the door for emergency authorization by the agency as soon as today.  

Jason Haley
Chief Investment Officer

Date TimeEventSurveyActualPriorRevised
12/7/2020Consumer Credit$15.500b$7.228b$16.214b$15.034b
12/8/2020NFIB Small Business Optimism102.5101.4104
12/8/2020Nonfarm Productivity4.90%4.60%4.90%
12/8/2020Unit Labor Costs-8.90%-6.60%-8.90%
12/9/2020MBA Mortgage Applications-1.20%-0.60%
12/9/2020Wholesale Inventories MoM0.90%1.10%0.90%
12/9/2020Wholesale Trade Sales MoM1.80%0.10%0.40%
12/9/2020JOLTS Job Openings6300665264366494
12/10/2020Initial Jobless Claims725k853k712k716k
12/10/2020Continuing Claims5210k5757k5520k5527k
12/10/2020CPI MoM0.10%0.20%0.00%
12/10/2020CPI Ex Food and Energy MoM0.10%0.20%0.00%
12/10/2020CPI YoY1.10%1.20%1.20%
12/10/2020CPI Ex Food and Energy YoY1.50%1.60%1.60%
12/10/2020CPI Index NSA260.089260.229260.388
12/10/2020CPI Core Index SA269.57269.887269.296
12/10/2020Real Avg Hourly Earning YoY3.20%3.20%
12/10/2020Real Avg Weekly Earnings YoY4.70%4.40%
12/10/2020Bloomberg Consumer Comfort4949.3
12/10/2020Household Change in Net Worth$3817b$7607b$8294b
12/10/2020Monthly Budget Statement-$198.5b-$145.3b-$208.8b
12/11/2020PPI Final Demand MoM0.10%0.10%0.30%
12/11/2020PPI Ex Food and Energy MoM0.20%0.10%0.10%
12/11/2020PPI Ex Food, Energy, Trade MoM0.20%0.10%0.20%
12/11/2020PPI Final Demand YoY0.70%0.80%0.50%
12/11/2020PPI Ex Food and Energy YoY1.50%1.40%1.10%
12/11/2020PPI Ex Food, Energy, Trade YoY0.90%0.80%
12/11/2020Bloomberg Dec. United States Economic Survey
12/11/2020U. of Mich. Sentiment7681.476.9
12/11/2020U. of Mich. Current Conditions91.887
12/11/2020U. of Mich. Expectations74.770.5
12/11/2020U. of Mich. 1 Yr Inflation2.30%2.80%
12/11/2020U. of Mich. 5-10 Yr Inflation2.50%2.50%

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.