December 28, 2020 Headlines

President Trump’s decision last night to sign the spending and Covid-aid package sparked a risk-on trade overnight. Treasury yields are higher and steeper this morning, and U.S. equity futures are up 55-90 bps. The $2.3 trillion spending bill averted a government shutdown this week, and it included $900 billion in fresh Covid-related support. This final week of 2020 should be very quiet in fixed income markets from a trading volume perspective, and there are no major economic events on the calendar.  

Jason Haley
Chief Investment Officer

12/28/20Dallas Fed Manf. Activity10.212
12/29/20S&P CoreLogic CS 20-City MoM SA1.00%1.27%
12/29/20S&P CoreLogic CS 20-City YoY NSA6.90%6.57%
12/29/20S&P CoreLogic CS 20-City NSA Index232.53
12/29/20S&P CoreLogic CS US HPI YoY NSA6.96%
12/29/20S&P CoreLogic CS US HPI NSA Index226.8
12/30/20Wholesale Inventories MoM0.70%1.10%
12/30/20Advance Goods Trade Balance-$81.5b-$80.3b
12/30/20Retail Inventories MoM0.80%
12/30/20MNI Chicago PMI5658.2
12/30/20Pending Home Sales MoM0.00%-1.10%
12/30/20Pending Home Sales NSA YoY21.00%19.50%
12/31/20Initial Jobless Claims830k803k
12/31/20Continuing Claims5337k
12/31/20Bloomberg Consumer Comfort47

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