June 19, 2020 Headlines

Risk markets are off to a good start this morning following a quiet news cycle overnight. Treasury yields 3-5 bps higher on the long-end of the curve, and equity futures are up more than 1%. Secretary of State Mike Pompeo met with his Chinese counterpart Yang Jiechi held a summit in Hawaii yesterday, the first time the two have met in person since August 2019.  According to a State Department statement, Pompeo stressed the need for greater transparency and information sharing between the two nations, particularly amid the current pandemic, and the Chinese foreign ministry referred to the discussion as “constructive.”

Jason Haley
Chief Investment Officer

6/15/2020Empire Manufacturing-29.6-0.2-48.5
6/15/2020Net Long-term TIC Flows-$128.4b-$112.6b-$111.6b
6/15/2020Total Net TIC Flows$125.3b$349.9b$355.3b
6/16/2020Retail Sales Advance MoM8.40%17.70%-16.40%-14.70%
6/16/2020Retail Sales Ex Auto MoM5.50%12.40%-17.20%-15.20%
6/16/2020Retail Sales Ex Auto and Gas5.10%12.40%-16.20%-14.40%
6/16/2020Retail Sales Control Group5.20%11.00%-15.30%-12.40%
6/16/2020Industrial Production MoM3.00%1.40%-11.20%-12.50%
6/16/2020Capacity Utilization66.90%64.80%64.90%64.00%
6/16/2020Manufacturing (SIC) Production5.00%3.80%-13.70%-15.50%
6/16/2020Business Inventories-1.00%-1.30%-0.20%-0.30%
6/16/2020NAHB Housing Market Index455837
6/17/2020MBA Mortgage Applications8.00%9.30%
6/17/2020Housing Starts1100k974k891k934k
6/17/2020Housing Starts MoM23.50%4.30%-30.20%-26.40%
6/17/2020Building Permits1245k1220k1074k1066k
6/17/2020Building Permits MoM16.80%14.40%-20.80%-21.40%
6/18/2020Philadelphia Fed Business Outlook-21.427.5-43.1
6/18/2020Initial Jobless Claims1290k1508k1542k1566k
6/18/2020Continuing Claims19850k20544k20929k20606k
6/18/2020Bloomberg Economic Expectations3829
6/18/2020Bloomberg Consumer Comfort40.238.7
6/18/2020Leading Index2.40%2.80%-4.40%-6.10%
6/19/2020Current Account Balance-$102.9b-$104.2b-$109.8b-$104.3b


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