February 24, 2020 Headlines

US Treasury yields plunged overnight breaking the 1.40% level on renewed contagion concerns surrounding the coronavirus. Virus outbreaks in South Korea, Japan, and Italy are growing in severity with Italy locking down an area of 50,000 people near Milan. In addition, China announced easing the quarantine of Wuhan only to walk back the statement hours later. Currently, the 10-year yield is trading down 11bps to 1.36% and the implied open on the S&P500 -3.03%. Key events later in the week will be the release of US jobless claims, GDP, and durables goods data on Thursday.

Chris Eckhoff
Associate, Investment Management Group

Date Event Survey Actual Prior Revised
2/24/2020 Chicago Fed Nat Activity Index -0.18 -0.25 -0.35 -0.51
2/24/2020 Dallas Fed Manf. Activity 0 -0.2
2/25/2020 House Price Purchase Index QoQ 1.10%
2/25/2020 FHFA House Price Index MoM 0.40% 0.20%
2/25/2020 S&P CoreLogic CS US HPI YoY NSA 3.54%
2/25/2020 S&P CoreLogic CS US HPI NSA Index 212.56
2/25/2020 S&P CoreLogic CS 20-City YoY NSA 2.80% 2.55%
2/25/2020 S&P CoreLogic CS 20-City MoM SA 0.41% 0.48%
2/25/2020 S&P CoreLogic CS 20-City NSA Index 218.68
2/25/2020 Conf. Board Consumer Confidence 132.1 131.6
2/25/2020 Conf. Board Expectations 102.5
2/25/2020 Conf. Board Present Situation 175.3
2/25/2020 Richmond Fed Manufact. Index 10 20
2/26/2020 MBA Mortgage Applications -6.40%
2/26/2020 New Home Sales 715k 694k
2/26/2020 New Home Sales MoM 3.00% -0.40%
2/27/2020 GDP Annualized QoQ 2.10% 2.10%
2/27/2020 Personal Consumption 1.70% 1.80%
2/27/2020 GDP Price Index 1.40% 1.40%
2/27/2020 Core PCE QoQ 1.30% 1.30%
2/27/2020 Durable Goods Orders -1.50% 2.40%
2/27/2020 Durables Ex Transportation 0.20% -0.10%
2/27/2020 Cap Goods Orders Nondef Ex Air 0.10% -0.80%
2/27/2020 Cap Goods Ship Nondef Ex Air 0.00% -0.30%
2/27/2020 Initial Jobless Claims 212k 210k
2/27/2020 Continuing Claims 1719k 1726k
2/27/2020 Bloomberg Consumer Comfort 65.6
2/27/2020 Pending Home Sales MoM 3.00% -4.90%
2/27/2020 Pending Home Sales NSA YoY 6.80%
2/27/2020 Kansas City Fed Manf. Activity -1 -1
2/28/2020 Advance Goods Trade Balance -$68.5b -$68.3b
2/28/2020 Wholesale Inventories MoM 0.10% -0.20%
2/28/2020 Retail Inventories MoM 0.20% 0.00% 0.00%
2/28/2020 Personal Income 0.40% 0.20%
2/28/2020 Personal Spending 0.30% 0.30%
2/28/2020 Real Personal Spending 0.20% 0.10%
2/28/2020 PCE Deflator MoM 0.20% 0.30%
2/28/2020 PCE Deflator YoY 1.80% 1.60%
2/28/2020 PCE Core Deflator MoM 0.20% 0.20%
2/28/2020 PCE Core Deflator YoY 1.70% 1.60%
2/28/2020 MNI Chicago PMI 46 42.9
2/28/2020 U. of Mich. Sentiment 100.7 100.9
2/28/2020 U. of Mich. Current Conditions 113.8
2/28/2020 U. of Mich. Expectations 92.6
2/28/2020 U. of Mich. 1 Yr Inflation 2.50%
2/28/2020 U. of Mich. 5-10 Yr Inflation 2.30%


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