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%

 

Subscribe Today!

Subscribe to our email list and get the latest articles and announcements from ALM First.

ALM First offers investment advisory services through ALM First Financial Advisors, LLC, which is registered with the U.S. Securities and Exchange Commission (“SEC”). SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the firm has attained a particular level of skill or ability. The information contained herein does not constitute investment advice or a recommendation for you to purchase or sell any specific security. You are solely responsible for reviewing the content and for any actions you take or choose not to take based on your review of such content. Information contained herein was derived from third party sources as indicated. While such information is believed to be reliable, no representation or warranty is made concerning the accuracy of any information presented. We have not and will not independently verify this information. Where such sources include opinions and projections, such opinions and projections should be ascribed only to the applicable third party source and not to ALM First. Statements herein that reflect projections or expectations of future financial or economic performance are forward-looking statements. Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct. Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or actual performance. No representation or warranty can be given that the estimates, opinions or assumptions made herein will prove to be accurate. Any projections and forward-looking statements included herein should be considered speculative and are qualified in their entirety by the information and risks disclosed in the confidential offering document. Actual results for any period may or may not approximate such forward-looking statements. No representations or warranties whatsoever are made by ALM First Financial Advisors, LLC or any other person or entity as to the future profitability of investments recommended by ALM First Financial Advisors, LLC.