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 Time | Event | Survey | Actual | Prior | Revised |
12/7/2020 | Consumer Credit | $15.500b | $7.228b | $16.214b | $15.034b |
12/8/2020 | NFIB Small Business Optimism | 102.5 | 101.4 | 104 | — |
12/8/2020 | Nonfarm Productivity | 4.90% | 4.60% | 4.90% | — |
12/8/2020 | Unit Labor Costs | -8.90% | -6.60% | -8.90% | — |
12/9/2020 | MBA Mortgage Applications | — | -1.20% | -0.60% | — |
12/9/2020 | Wholesale Inventories MoM | 0.90% | 1.10% | 0.90% | — |
12/9/2020 | Wholesale Trade Sales MoM | — | 1.80% | 0.10% | 0.40% |
12/9/2020 | JOLTS Job Openings | 6300 | 6652 | 6436 | 6494 |
12/10/2020 | Initial Jobless Claims | 725k | 853k | 712k | 716k |
12/10/2020 | Continuing Claims | 5210k | 5757k | 5520k | 5527k |
12/10/2020 | CPI MoM | 0.10% | 0.20% | 0.00% | — |
12/10/2020 | CPI Ex Food and Energy MoM | 0.10% | 0.20% | 0.00% | — |
12/10/2020 | CPI YoY | 1.10% | 1.20% | 1.20% | — |
12/10/2020 | CPI Ex Food and Energy YoY | 1.50% | 1.60% | 1.60% | — |
12/10/2020 | CPI Index NSA | 260.089 | 260.229 | 260.388 | — |
12/10/2020 | CPI Core Index SA | 269.57 | 269.887 | 269.296 | — |
12/10/2020 | Real Avg Hourly Earning YoY | — | 3.20% | 3.20% | — |
12/10/2020 | Real Avg Weekly Earnings YoY | — | 4.70% | 4.40% | — |
12/10/2020 | Bloomberg Consumer Comfort | — | 49 | 49.3 | — |
12/10/2020 | Household Change in Net Worth | — | $3817b | $7607b | $8294b |
12/10/2020 | Monthly Budget Statement | -$198.5b | -$145.3b | -$208.8b | — |
12/11/2020 | PPI Final Demand MoM | 0.10% | 0.10% | 0.30% | — |
12/11/2020 | PPI Ex Food and Energy MoM | 0.20% | 0.10% | 0.10% | — |
12/11/2020 | PPI Ex Food, Energy, Trade MoM | 0.20% | 0.10% | 0.20% | — |
12/11/2020 | PPI Final Demand YoY | 0.70% | 0.80% | 0.50% | — |
12/11/2020 | PPI Ex Food and Energy YoY | 1.50% | 1.40% | 1.10% | — |
12/11/2020 | PPI Ex Food, Energy, Trade YoY | — | 0.90% | 0.80% | — |
12/11/2020 | Bloomberg Dec. United States Economic Survey | ||||
12/11/2020 | U. of Mich. Sentiment | 76 | 81.4 | 76.9 | — |
12/11/2020 | U. of Mich. Current Conditions | — | 91.8 | 87 | — |
12/11/2020 | U. of Mich. Expectations | — | 74.7 | 70.5 | — |
12/11/2020 | U. of Mich. 1 Yr Inflation | — | 2.30% | 2.80% | — |
12/11/2020 | U. of Mich. 5-10 Yr Inflation | — | 2.50% | 2.50% | — |
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