January 4, 2021 Headlines
Treasury yields are drifting higher and steeper to start 2021 amid a positive tone in global risk markets. Most major equity indices are higher despite warnings of new and extended Covid-related lockdowns in Japan and Europe. This week’s economic calendar is relatively full, headlined by the December jobs report on Friday. We will also see December PMI data and the minutes of the December 16 FOMC meeting. There will be several public appearances by Fed leaders this week, including three today at the annual American Economic Association meeting (Evans, Bostic, and Mester).
Jason Haley
Chief Investment Officer
| Date | Event | Surv(M) | Actual | Prior | Revised |
| 01/04/21 | Markit US Manufacturing PMI | 56.3 | — | 56.5 | — |
| 01/04/21 | Construction Spending MoM | 1.00% | — | 1.30% | — |
| 01/05/21 | ISM Manufacturing | 56.7 | — | 57.5 | — |
| 01/05/21 | ISM New Orders | — | — | 65.1 | — |
| 01/05/21 | ISM Prices Paid | — | — | 65.4 | — |
| 01/05/21 | ISM Employment | — | — | 48.4 | — |
| 01/05/21 | Wards Total Vehicle Sales | 15.73m | — | 15.55m | — |
| 01/06/21 | MBA Mortgage Applications | — | — | 0.80% | — |
| 01/06/21 | ADP Employment Change | 50k | — | 307k | — |
| 01/06/21 | Markit US Services PMI | 55.2 | — | 55.3 | — |
| 01/06/21 | Markit US Composite PMI | — | — | 55.7 | — |
| 01/06/21 | Factory Orders | 0.70% | — | 1.00% | — |
| 01/06/21 | Factory Orders Ex Trans | — | — | 1.00% | — |
| 01/06/21 | Durable Goods Orders | 0.90% | — | 0.90% | — |
| 01/06/21 | Durables Ex Transportation | 0.40% | — | 0.40% | — |
| 01/06/21 | Cap Goods Orders Nondef Ex Air | — | — | 0.40% | — |
| 01/06/21 | Cap Goods Ship Nondef Ex Air | — | — | 0.40% | — |
| 01/06/21 | FOMC Meeting Minutes | — | — | — | — |
| 01/07/21 | Challenger Job Cuts YoY | — | — | 45.40% | — |
| 01/07/21 | Initial Jobless Claims | 803k | — | 787k | — |
| 01/07/21 | Continuing Claims | 5150k | — | 5219k | — |
| 01/07/21 | Trade Balance | -$67.0b | — | -$63.1b | — |
| 01/07/21 | Bloomberg Consumer Comfort | — | — | 44.6 | — |
| 01/07/21 | ISM Services Index | 54.5 | — | 55.9 | — |
| 01/08/21 | Revisions: Household Survey data | ||||
| 01/08/21 | Two-Month Payroll Net Revision | — | — | 11k | — |
| 01/08/21 | Change in Nonfarm Payrolls | 62k | — | 245k | — |
| 01/08/21 | Change in Private Payrolls | 50k | — | 344k | — |
| 01/08/21 | Change in Manufact. Payrolls | 16k | — | 27k | — |
| 01/08/21 | Unemployment Rate | 6.80% | — | 6.70% | — |
| 01/08/21 | Average Hourly Earnings MoM | 0.20% | — | 0.30% | — |
| 01/08/21 | Average Hourly Earnings YoY | 4.50% | — | 4.40% | — |
| 01/08/21 | Average Weekly Hours All Employees | 34.8 | — | 34.8 | — |
| 01/08/21 | Labor Force Participation Rate | — | — | 61.50% | — |
| 01/08/21 | Underemployment Rate | — | — | 12.00% | — |
| 01/08/21 | Wholesale Trade Sales MoM | — | — | 1.80% | — |
| 01/08/21 | Wholesale Inventories MoM | -0.10% | — | -0.10% | — |
| 01/08/21 | Consumer Credit | $9.000b | — | $7.228b | — |
Subscribe Today!
Subscribe to our email list and get the latest articles and announcements from ALM First.