July 1, 2020 Headlines

Despite weaker U.S. equity futures overnight, Treasury yields are drifting higher following better than expected economic data out of Asia and Europe. More specifically manufacturing PMI data from China, Japan, and Germany, and Germany also reported much higher than expected growth in retail sales for May (+13.9% vs. +3.5% expected). June U.S. PMI data (ISM) will be reported later this morning, and the minutes of the June 10 FOMC meeting will be released this afternoon. Today is the last full trading day for the bond market this week. Tomorrow will be an early close and Friday a full close in observance of Independence Day.

Jason Haley
Chief Investment Officer

6/29/2020Pending Home Sales MoM19.30%44.30%-21.80%
6/29/2020Pending Home Sales NSA YoY-21.30%-10.40%-34.60%
6/29/2020Dallas Fed Manf. Activity-21.4-6.1-49.2
6/30/2020S&P CoreLogic CS 20-City MoM SA0.50%0.33%0.47%0.49%
6/30/2020S&P CoreLogic CS 20-City YoY NSA3.80%3.98%3.92%3.91%
6/30/2020S&P CoreLogic CS 20-City NSA Index224.1224.08222.21222.17
6/30/2020S&P CoreLogic CS US HPI YoY NSA4.50%4.73%4.35%4.55%
6/30/2020S&P CoreLogic CS US HPI NSA Index217.72214.96215.35
6/30/2020MNI Chicago PMI4536.632.3
6/30/2020Conf. Board Consumer Confidence91.598.186.685.9
6/30/2020Conf. Board Present Situation86.271.168.4
6/30/2020Conf. Board Expectations10696.997.6
7/1/2020MBA Mortgage Applications-1.80%-8.70%
7/1/2020Challenger Job Cuts YoY305.50%577.80%
7/1/2020ADP Employment Change2900k2369k-2760k3065k
7/1/2020Markit US Manufacturing PMI49.649.6
7/1/2020ISM Manufacturing49.843.1
7/1/2020ISM New Orders51.931.8
7/1/2020ISM Prices Paid44.640.8
7/1/2020ISM Employment32.1
7/1/2020Construction Spending MoM1.00%-2.90%
7/1/2020Revisions: Construction Spending
7/1/2020FOMC Meeting Minutes
7/1/2020Wards Total Vehicle Sales13.00m12.21m
7/2/2020Two-Month Payroll Net Revision
7/2/2020Change in Nonfarm Payrolls3074k2509k
7/2/2020Change in Private Payrolls3000k3094k
7/2/2020Change in Manufact. Payrolls425k225k
7/2/2020Unemployment Rate12.50%13.30%
7/2/2020Average Weekly Hours All Employees34.534.7
7/2/2020Average Hourly Earnings MoM-0.80%-1.00%
7/2/2020Average Hourly Earnings YoY5.30%6.70%
7/2/2020Labor Force Participation Rate61.20%60.80%
7/2/2020Underemployment Rate21.20%
7/2/2020Initial Jobless Claims1350k1480k
7/2/2020Continuing Claims19000k19522k
7/2/2020Trade Balance-$53.1b-$49.4b
7/2/2020Bloomberg Consumer Comfort41.4
7/2/2020Factory Orders8.60%-13.00%
7/2/2020Factory Orders Ex Trans-8.50%
7/2/2020Durable Goods Orders15.80%15.80%
7/2/2020Durables Ex Transportation4.00%4.00%
7/2/2020Cap Goods Orders Nondef Ex Air2.30%2.30%
7/2/2020Cap Goods Ship Nondef Ex Air1.80%


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