December 31, 2020 Headlines

We’ve finally reached the last day of what has been a very challenging year. Financial markets are little changed this morning, and overnight activity was expectedly muted, with Treasury trading volumes at 35% of average (Japan closed for holiday). Initial and continuing jobless claims both fell more than expected, but some of the decline is attributable to exhaustion of many emergency programs. Trading activity should remain light today, and the bond market will close early at 2pm ET. We wish everyone a very safe and Happy New Year!

Jason Haley
Chief Investment Officer

Date Event Surv(M) Actual Prior Revised
12/28/20 Dallas Fed Manf. Activity 11.6 9.7 12 —
12/29/20 S&P CoreLogic CS 20-City MoM SA 1.00% 1.61% 1.27% 1.44%
12/29/20 S&P CoreLogic CS 20-City YoY NSA 6.95% 7.95% 6.57% 6.64%
12/29/20 S&P CoreLogic CS 20-City NSA Index — 235.77 232.53 232.68
12/29/20 S&P CoreLogic CS US HPI YoY NSA — 8.41% 6.96% 6.99%
12/29/20 S&P CoreLogic CS US HPI NSA Index — 229.93 226.8 226.82
12/30/20 Advance Goods Trade Balance -$81.5b -$84.8b -$80.3b -$80.4b
12/30/20 Retail Inventories MoM — 0.70% 0.80% 0.90%
12/30/20 Wholesale Inventories MoM 0.60% -0.10% 1.10% 1.20%
12/30/20 MNI Chicago PMI 56.3 59.5 58.2 —
12/30/20 Pending Home Sales MoM 0.00% -2.60% -1.10% -0.90%
12/30/20 Pending Home Sales NSA YoY 21.00% 16.00% 19.50% 19.70%
12/31/20 Initial Jobless Claims 835k 787k 803k 806k
12/31/20 Continuing Claims 5370k 5219k 5337k 5322k
12/31/20 Bloomberg Consumer Comfort — — 47 —

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