February 20, 2020 Headlines

The news cycle was relatively quiet overnight from a market perspective, but equities are still struggling ahead of the U.S. open (SPX futures -0.3%). Treasury yields are modestly lower and the curve flatter to start the day. Coronavirus remains the primary focal point for global markets, specifically as it relates to economic implications, and China continues to provide fiscal and monetary stimulus to buffer the blow. Initial jobless claims for the week ended February 15 matched expectations at 210,000, still well below 5-year and 10-year averages of 242,000 and 308,000, respectively.

Jason Haley
Chief Investment Officer

Date Time	Event	Survey	Actual	Prior	Revised
2/20/2020	Philadelphia Fed Business Outlook	11	36.7	17	—
2/20/2020	Initial Jobless Claims	210k	210k	205k	206k
2/20/2020	Continuing Claims	1717k	1726k	1698k	1701k
2/20/2020	Bloomberg Economic Expectations	—	—	56	—
2/20/2020	Bloomberg Consumer Comfort	—	—	65.7	—
2/20/2020	Leading Index	0.40%	—	-0.30%	—
2/21/2020	Markit US Manufacturing PMI	51.5	—	51.9	—
2/21/2020	Markit US Services PMI	53.4	—	53.4	—
2/21/2020	Markit US Composite PMI	—	—	53.3	—
2/21/2020	Revisions: Existing Home Sales
2/21/2020	Existing Home Sales	5.45m	—	5.54m	—
2/21/2020	Existing Home Sales MoM	-1.70%	—	3.60%	—

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