January 27, 2020 Headlines

Friday’s risk-off sentiment continued over the weekend as concerns surrounding the coronavirus intensified. To combat the virus, the Chinese government has expanded travel restrictions to now 17 cities and extended the Lunar New Year holiday to February 2nd. Also adding fuel to the fire, German Ifo business sentiment regressed compared to consensus expectations of a robust turnaround. The Ifo index surveys manufacturers, wholesalers, and retailers to measure businesses climate forecasts for the next six months.  At the open, the 10-year US Treasury yields 1.61% (-7bps) and the S&P 500 is down 1.72%.

Chris Eckhoff
Associate, Investment Management Group

1/27/2020New Home Sales730k694k719k697k
1/27/2020New Home Sales MoM1.50%-0.40%1.30%-1.10%
1/27/2020Dallas Fed Manf. Activity-2-0.2-3.2
1/28/2020Durable Goods Orders0.40%-2.10%
1/28/2020Durables Ex Transportation0.30%-0.10%
1/28/2020Cap Goods Orders Nondef Ex Air0.10%0.20%
1/28/2020Cap Goods Ship Nondef Ex Air0.20%-0.30%
1/28/2020S&P CoreLogic CS US HPI YoY NSA3.34%
1/28/2020S&P CoreLogic CS US HPI NSA Index212.43
1/28/2020S&P CoreLogic CS 20-City YoY NSA2.40%2.23%
1/28/2020S&P CoreLogic CS 20-City MoM SA0.40%0.43%
1/28/2020S&P CoreLogic CS 20-City NSA Index218.43
1/28/2020Conf. Board Consumer Confidence128126.5
1/28/2020Conf. Board Expectations97.4
1/28/2020Conf. Board Present Situation170
1/28/2020Richmond Fed Manufact. Index-3-5
1/29/2020MBA Mortgage Applications-1.20%
1/29/2020Advance Goods Trade Balance-$65.0b-$63.2b
1/29/2020Wholesale Inventories MoM0.10%-0.10%
1/29/2020Retail Inventories MoM0.10%-0.70%-0.80%
1/29/2020Pending Home Sales MoM0.50%1.20%
1/29/2020Pending Home Sales NSA YoY10.30%5.60%
1/29/2020FOMC Rate Decision (Upper Bound)1.75%1.75%
1/29/2020FOMC Rate Decision (Lower Bound)1.50%1.50%
1/29/2020Interest Rate on Excess Reserves1.55%1.55%
1/30/2020GDP Annualized QoQ2.10%2.10%
1/30/2020Personal Consumption2.00%3.20%
1/30/2020GDP Price Index1.80%1.80%
1/30/2020Core PCE QoQ1.60%2.10%
1/30/2020Initial Jobless Claims215k211k
1/30/2020Continuing Claims1738k1731k
1/30/2020Bloomberg Consumer Comfort66
1/31/2020PCE Core Deflator MoM0.10%0.10%
1/31/2020Employment Cost Index0.70%0.70%
1/31/2020Personal Income0.30%0.50%
1/31/2020Personal Spending0.30%0.40%
1/31/2020Real Personal Spending0.10%0.30%
1/31/2020PCE Deflator MoM0.20%0.20%
1/31/2020PCE Deflator YoY1.60%1.50%
1/31/2020PCE Core Deflator YoY1.60%1.60%
1/31/2020MNI Chicago PMI4948.948.2
1/31/2020U. of Mich. Sentiment99.199.1
1/31/2020U. of Mich. Current Conditions115.8
1/31/2020U. of Mich. Expectations88.3
1/31/2020U. of Mich. 1 Yr Inflation2.50%
1/31/2020U. of Mich. 5-10 Yr Inflation2.50%



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