February 12, 2021 Headlines

With several Asian markets closed for Lunar New Year, it was another quiet overnight session. Despite a modest risk-off tone in equities this morning, Treasury yields are drifting higher and steeper. For equities, the Q4 earnings season continues to produce positive results. Almost 80% of S&P 500 companies have reported earnings above earnings per share (EPS) estimates, and 9 of 11 sectors in the index have reported positive earnings growth (6 posted double-digit growth rates).  As a reminder, U.S. markets will be closed Monday in observance of Presidents Day.  

Jason Haley
Chief Investment Officer

Date TimeEventSurveyActualPriorRevised
2/8/2021Revisions: CPI
2/9/2021NFIB Small Business Optimism979595.9
2/9/2021JOLTS Job Openings6400664665276572
2/10/2021MBA Mortgage Applications-4.10%8.10%
2/10/2021CPI MoM0.30%0.30%0.40%0.20%
2/10/2021CPI Ex Food and Energy MoM0.20%0.00%0.10%0.00%
2/10/2021CPI YoY1.50%1.40%1.40%
2/10/2021CPI Ex Food and Energy YoY1.50%1.40%1.60%
2/10/2021CPI Index NSA261.8261.582260.474
2/10/2021CPI Core Index SA270.592270.025270.117269.94
2/10/2021Real Avg Weekly Earnings YoY6.10%4.90%5.30%
2/10/2021Real Avg Hourly Earning YoY4.00%3.70%4.10%
2/10/2021Wholesale Inventories MoM0.10%0.30%0.10%
2/10/2021Wholesale Trade Sales MoM1.20%0.20%0.30%
2/10/2021Monthly Budget Statement-$157.5b-$162.8b-$32.6b
2/11/2021Initial Jobless Claims760k793k779k812k
2/11/2021Continuing Claims4420k4545k4592k4690k
2/11/2021Bloomberg Consumer Comfort44.944.6
2/11/2021Mortgage Delinquencies6.73%7.65%
2/11/2021MBA Mortgage Foreclosures0.56%0.59%
2/12/2021Bloomberg Feb. United States Economic Survey
2/12/2021U. of Mich. Sentiment80.979
2/12/2021U. of Mich. Current Conditions8986.7
2/12/2021U. of Mich. Expectations7674
2/12/2021U. of Mich. 1 Yr Inflation3.00%
2/12/2021U. of Mich. 5-10 Yr Inflation2.70%
2/12/2021Revisions: PPI

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