December 24, 2020 Headlines

Volumes are light ahead of the Christmas holiday with both US Treasury yields and equities essentially unchanged in the overnight session. Headlines are focused on the European Union and United Kingdom finalizing a post-Brexit trade accord after reaching a compromise on fishing rights. The agreement would complete Britain’s separation from the trading bloc following the 2016 referendum.  Due to the upcoming holiday, the bond market is set to close early at 2:00pm EST.

Chris Eckhoff
Associate, Investment Management Group

Date Time Event Survey Actual Prior Revised
12/21/2020 Chicago Fed Nat Activity Index 0.75 0.27 0.83 1.01
12/22/2020 GDP Annualized QoQ 33.10% 33.40% 33.10%
12/22/2020 Personal Consumption 40.60% 41.00% 40.60%
12/22/2020 GDP Price Index 3.60% 3.50% 3.60%
12/22/2020 Core PCE QoQ 3.50% 3.40% 3.50%
12/22/2020 Conf. Board Consumer Confidence 97 88.6 96.1 92.9
12/22/2020 Conf. Board Present Situation 90.3 105.9
12/22/2020 Conf. Board Expectations 87.5 89.5 84.3
12/22/2020 Existing Home Sales 6.70m 6.69m 6.85m 6.86m
12/22/2020 Existing Home Sales MoM -2.20% -2.50% 4.30% 4.40%
12/22/2020 Richmond Fed Manufact. Index 11 19 15
12/23/2020 MBA Mortgage Applications 0.80% 1.10%
12/23/2020 PCE Core Deflator MoM 0.10% 0.00% 0.00%
12/23/2020 Durable Goods Orders 0.60% 0.90% 1.30% 1.80%
12/23/2020 Durables Ex Transportation 0.50% 0.40% 1.30% 1.90%
12/23/2020 Cap Goods Orders Nondef Ex Air 0.60% 0.40% 0.80% 1.60%
12/23/2020 Cap Goods Ship Nondef Ex Air 0.70% 0.40% 2.40% 2.60%
12/23/2020 Initial Jobless Claims 880k 803k 885k 892k
12/23/2020 Continuing Claims 5560k 5337k 5508k 5507k
12/23/2020 Personal Income -0.30% -1.10% -0.70% -0.60%
12/23/2020 Personal Spending -0.20% -0.40% 0.50% 0.30%
12/23/2020 Real Personal Spending -0.30% -0.40% 0.50% 0.30%
12/23/2020 PCE Deflator MoM 0.10% 0.00% 0.00%
12/23/2020 PCE Deflator YoY 1.20% 1.10% 1.20%
12/23/2020 PCE Core Deflator YoY 1.40% 1.40% 1.40%
12/23/2020 FHFA House Price Index MoM 0.60% 1.50% 1.70%
12/23/2020 U. of Mich. Sentiment 81.1 80.7 81.4
12/23/2020 U. of Mich. Current Conditions 90 91.8
12/23/2020 U. of Mich. Expectations 74.6 74.7
12/23/2020 U. of Mich. 1 Yr Inflation 2.50% 2.30%
12/23/2020 U. of Mich. 5-10 Yr Inflation 2.50% 2.50%
12/23/2020 New Home Sales 995k 841k 999k 945k
12/23/2020 New Home Sales MoM -0.50% -11.00% -0.30% -2.10%
12/24/2020 Bloomberg Consumer Comfort 48.4

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