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

Date	Event	Surv(M)	Actual	Prior	Revised
12/15/20	Empire Manufacturing	6.3	4.9	6.3	—
12/15/20	Import Price Index MoM	0.30%	0.10%	-0.10%	—
12/15/20	Import Price Index ex Petroleum MoM	0.20%	0.00%	0.00%	-0.10%
12/15/20	Import Price Index YoY	-0.90%	-1.00%	-1.00%	—
12/15/20	Export Price Index MoM	0.20%	0.60%	0.20%	—
12/15/20	Export Price Index YoY	—	-1.10%	-1.60%	—
12/15/20	Industrial Production MoM	0.30%	0.40%	1.10%	0.90%
12/15/20	Capacity Utilization	73.00%	73.30%	72.80%	73.00%
12/15/20	Manufacturing (SIC) Production	0.40%	0.80%	1.00%	1.10%
12/15/20	Net Long-term TIC Flows	—	—	$108.9b	—
12/15/20	Total Net TIC Flows	—	—	-$79.9b	—
12/16/20	MBA Mortgage Applications	—	—	-1.20%	—
12/16/20	Retail Sales Advance MoM	-0.30%	—	0.30%	—
12/16/20	Retail Sales Ex Auto MoM	0.10%	—	0.20%	—
12/16/20	Retail Sales Ex Auto and Gas	0.10%	—	0.20%	—
12/16/20	Retail Sales Control Group	0.10%	—	0.10%	—
12/16/20	Markit US Manufacturing PMI	55.8	—	56.7	—
12/16/20	Markit US Services PMI	55.9	—	58.4	—
12/16/20	Markit US Composite PMI	—	—	58.6	—
12/16/20	Business Inventories	0.60%	—	0.70%	—
12/16/20	NAHB Housing Market Index	88	—	90	—
12/16/20	FOMC Rate Decision (Upper Bound)	0.25%	—	0.25%	—
12/16/20	FOMC Rate Decision (Lower Bound)	0.00%	—	0.00%	—
12/16/20	Interest Rate on Excess Reserves	0.10%	—	0.10%	—
12/17/20	Building Permits	1560k	—	1545k	1544k
12/17/20	Building Permits MoM	1.00%	—	0.00%	-0.10%
12/17/20	Philadelphia Fed Business Outlook	20	—	26.3	—
12/17/20	Housing Starts	1535k	—	1530k	—
12/17/20	Initial Jobless Claims	815k	—	853k	—
12/17/20	Housing Starts MoM	0.30%	—	4.90%	—
12/17/20	Continuing Claims	5700k	—	5757k	—
12/17/20	Bloomberg Economic Expectations	—	—	43	—
12/17/20	Bloomberg Consumer Comfort	—	—	49	—
12/17/20	Kansas City Fed Manf. Activity	9	—	11	—
12/18/20	Current Account Balance	-$187.0b	—	-$170.5b	—
12/18/20	Leading Index	0.50%	—	0.70%	—

Subscribe Today!

Subscribe to our email list and get the latest articles and announcements from ALM First.

Recent Articles

December 8, 2021 Headlines December 8, 2021
December 7, 2021 Headlines December 7, 2021
December 6, 2021 Headlines December 6, 2021

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.