December 3, 2020 Headlines
Treasury yields are unchanged this morning with the 10-year sitting at 93 bps while equity futures are slightly in negative territory. Initial jobless claims fell last week from a revised 787k to 712k, the steepest decline in nearly two months. Continuing claims also fell, declining to 5.52 million from 6.07 million the week prior. Both numbers came below forecast and offer a glimmer of an improving labor market. The caveat of course is that Thanksgiving was last week, and holidays can make seasonal adjustments more difficult.
Hafizan Hamzah
Director, Investment Management Group
Date | Event | Surv(M) | Actual | Prior | Revised |
11/30/20 | MNI Chicago PMI | 59 | 58.2 | 61.1 | — |
11/30/20 | Pending Home Sales MoM | 1.00% | -1.10% | -2.20% | -2.00% |
11/30/20 | Pending Home Sales NSA YoY | — | 19.50% | 21.90% | 22.20% |
11/30/20 | Dallas Fed Manf. Activity | 14.3 | 12 | 19.8 | — |
12/01/20 | Markit US Manufacturing PMI | 56.7 | 56.7 | 56.7 | — |
12/01/20 | ISM Manufacturing | 58 | 57.5 | 59.3 | — |
12/01/20 | ISM New Orders | — | 65.1 | 67.9 | — |
12/01/20 | ISM Prices Paid | 65 | 65.4 | 65.5 | — |
12/01/20 | ISM Employment | — | 48.4 | 53.2 | — |
12/01/20 | Construction Spending MoM | 0.80% | 1.30% | 0.30% | -0.50% |
12/01/20 | Wards Total Vehicle Sales | 16.10m | 15.55m | 16.21m | — |
12/02/20 | MBA Mortgage Applications | — | -0.60% | 3.90% | — |
12/02/20 | ADP Employment Change | 440k | 307k | 365k | 404k |
12/02/20 | U.S. Federal Reserve Releases Beige Book | ||||
12/03/20 | Challenger Job Cuts YoY | — | 45.40% | 60.40% | — |
12/03/20 | Initial Jobless Claims | 775k | 712k | 778k | 787k |
12/03/20 | Continuing Claims | 5800k | 5520k | 6071k | 6089k |
12/03/20 | Bloomberg Consumer Comfort | — | — | 49.6 | — |
12/03/20 | Markit US Services PMI | 57.5 | — | 57.7 | — |
12/03/20 | Markit US Composite PMI | — | — | 57.9 | — |
12/03/20 | ISM Services Index | 55.8 | — | 56.6 | — |
12/04/20 | Change in Nonfarm Payrolls | 475k | — | 638k | — |
12/04/20 | Two-Month Payroll Net Revision | — | — | — | — |
12/04/20 | Change in Private Payrolls | 545k | — | 906k | — |
12/04/20 | Change in Manufact. Payrolls | 45k | — | 38k | — |
12/04/20 | Unemployment Rate | 6.80% | — | 6.90% | — |
12/04/20 | Average Hourly Earnings MoM | 0.10% | — | 0.10% | — |
12/04/20 | Average Hourly Earnings YoY | 4.20% | — | 4.50% | — |
12/04/20 | Average Weekly Hours All Employees | 34.8 | — | 34.8 | — |
12/04/20 | Labor Force Participation Rate | 61.70% | — | 61.70% | — |
12/04/20 | Underemployment Rate | — | — | 12.10% | — |
12/04/20 | Trade Balance | -$64.8b | — | -$63.9b | — |
12/04/20 | Factory Orders | 0.80% | — | 1.10% | — |
12/04/20 | Factory Orders Ex Trans | — | — | 0.50% | — |
12/04/20 | Durable Goods Orders | 1.30% | — | 1.30% | — |
12/04/20 | Durables Ex Transportation | 1.30% | — | 1.30% | — |
12/04/20 | Cap Goods Orders Nondef Ex Air | 0.70% | — | 0.70% | — |
12/04/20 | Cap Goods Ship Nondef Ex Air | — | — | 2.30% | — |
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