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

12/28/20Dallas Fed Manf. Activity11.69.712
12/29/20S&P CoreLogic CS 20-City MoM SA1.00%1.61%1.27%1.44%
12/29/20S&P CoreLogic CS 20-City YoY NSA6.95%7.95%6.57%6.64%
12/29/20S&P CoreLogic CS 20-City NSA Index235.77232.53232.68
12/29/20S&P CoreLogic CS US HPI YoY NSA8.41%6.96%6.99%
12/29/20S&P CoreLogic CS US HPI NSA Index229.93226.8226.82
12/30/20Advance Goods Trade Balance-$81.5b-$84.8b-$80.3b-$80.4b
12/30/20Retail Inventories MoM0.70%0.80%0.90%
12/30/20Wholesale Inventories MoM0.60%-0.10%1.10%1.20%
12/30/20MNI Chicago PMI56.359.558.2
12/30/20Pending Home Sales MoM0.00%-2.60%-1.10%-0.90%
12/30/20Pending Home Sales NSA YoY21.00%16.00%19.50%19.70%
12/31/20Initial Jobless Claims835k787k803k806k
12/31/20Continuing Claims5370k5219k5337k5322k
12/31/20Bloomberg Consumer Comfort47

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