December 15, 2020 Headlines

Equities are moving higher this morning, catalyzed by vaccine shipments as well as progressing stimulus talks. Treasuries are selling off pushing the curve roughly a basis point higher. The long-term outlook is positive given vaccine development, but the path forward likely remains bumpy with COVID cases continuing to rise which could result in another round of lockdowns. The Fed is meeting today and tomorrow and an investors will be looking for more guidance around its asset purchases.

Hafizan Hamzah
Director, Investment Management Group

DateEventSurv(M)ActualPriorRevised
12/15/20Empire Manufacturing6.34.96.3
12/15/20Import Price Index MoM0.30%0.10%-0.10%
12/15/20Import Price Index ex Petroleum MoM0.20%0.00%0.00%-0.10%
12/15/20Import Price Index YoY-0.90%-1.00%-1.00%
12/15/20Export Price Index MoM0.20%0.60%0.20%
12/15/20Export Price Index YoY-1.10%-1.60%
12/15/20Industrial Production MoM0.30%0.40%1.10%0.90%
12/15/20Capacity Utilization73.00%73.30%72.80%73.00%
12/15/20Manufacturing (SIC) Production0.40%0.80%1.00%1.10%
12/15/20Net Long-term TIC Flows$108.9b
12/15/20Total Net TIC Flows-$79.9b
12/16/20MBA Mortgage Applications-1.20%
12/16/20Retail Sales Advance MoM-0.30%0.30%
12/16/20Retail Sales Ex Auto MoM0.10%0.20%
12/16/20Retail Sales Ex Auto and Gas0.10%0.20%
12/16/20Retail Sales Control Group0.10%0.10%
12/16/20Markit US Manufacturing PMI55.856.7
12/16/20Markit US Services PMI55.958.4
12/16/20Markit US Composite PMI58.6
12/16/20Business Inventories0.60%0.70%
12/16/20NAHB Housing Market Index8890
12/16/20FOMC Rate Decision (Upper Bound)0.25%0.25%
12/16/20FOMC Rate Decision (Lower Bound)0.00%0.00%
12/16/20Interest Rate on Excess Reserves0.10%0.10%
12/17/20Building Permits1560k1545k1544k
12/17/20Building Permits MoM1.00%0.00%-0.10%
12/17/20Philadelphia Fed Business Outlook2026.3
12/17/20Housing Starts1535k1530k
12/17/20Initial Jobless Claims815k853k
12/17/20Housing Starts MoM0.30%4.90%
12/17/20Continuing Claims5700k5757k
12/17/20Bloomberg Economic Expectations43
12/17/20Bloomberg Consumer Comfort49
12/17/20Kansas City Fed Manf. Activity911
12/18/20Current Account Balance-$187.0b-$170.5b
12/18/20Leading Index0.50%0.70%

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.