July 6, 2020 Headlines

Global equity markets were mostly stronger overnight, particularly China’s Shanghai Composite (+5.7%). The rally in Chinese stocks is attributable to bullish economic comments by the country’s state media. U.S. equity futures are up a more modest 1.3% ahead of the open, and Treasury yields are up 1-3 bps across the curve. This week’s economic data calendar is relatively light, and only two Fed leaders will be speaking this week, although Atlanta Fed President Raphael Bostic will make three different webinar appearances.

Jason Haley
Chief Investment Officer

7/6/2020Markit US Services PMI46.946.7
7/6/2020Markit US Composite PMI46.8
7/6/2020ISM Non-Manufacturing Index50.245.4
7/7/2020JOLTS Job Openings45005046
7/8/2020MBA Mortgage Applications-1.80%
7/8/2020Consumer Credit-$15.500b-$68.779b
7/9/2020Initial Jobless Claims1375k1427k
7/9/2020Continuing Claims18800k19290k
7/9/2020Bloomberg Consumer Comfort43.3
7/9/2020Wholesale Trade Sales MoM-16.90%
7/9/2020Wholesale Inventories MoM-1.20%-1.20%
7/10/2020PPI Final Demand MoM0.40%0.40%
7/10/2020PPI Ex Food and Energy MoM0.10%-0.10%
7/10/2020PPI Ex Food, Energy, Trade MoM0.10%0.10%
7/10/2020PPI Final Demand YoY-0.20%-0.80%
7/10/2020PPI Ex Food and Energy YoY0.40%0.30%
7/10/2020PPI Ex Food, Energy, Trade YoY-0.20%-0.40%


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