Risk-off sentiment return to the market overnight after rebounding yesterday on President Trump’s announcement of fiscal stimulus to reduce the impact of the coronavirus. So far, lawmaker’s have failed to offer specific details on the proposal causing the US Treasury curve to bull-flatten with 10-year yield reaching a low of .65% and sending S&P 500 futures down 3%. While fiscal policy is still be debated, central banks continue to provide relief. The Bank of England unanimously voted to issue an emergency rate cut, lowing short-term rates by 50bps. Now all the attention has turned to the European Central Bank which concludes its scheduled meeting tomorrow.
Chris Eckhoff
Associate, Investment Management Group
Date | Event | Survey | Actual | Prior | Revised |
3/10/2020 | NFIB Small Business Optimism | 102.9 | 104.5 | 104.3 | — |
3/11/2020 | MBA Mortgage Applications | — | 55.40% | 15.10% | — |
3/11/2020 | CPI MoM | 0.00% | 0.10% | 0.10% | — |
3/11/2020 | CPI Ex Food and Energy MoM | 0.20% | 0.20% | 0.20% | — |
3/11/2020 | CPI YoY | 2.20% | 2.30% | 2.50% | — |
3/11/2020 | CPI Ex Food and Energy YoY | 2.30% | 2.40% | 2.30% | — |
3/11/2020 | CPI Index NSA | 258.455 | 258.68 | 257.971 | — |
3/11/2020 | CPI Core Index SA | 266.913 | 267.07 | 266.476 | — |
3/11/2020 | Real Avg Weekly Earnings YoY | — | 0.70% | 0.00% | — |
3/11/2020 | Real Avg Hourly Earning YoY | — | 0.60% | 0.60% | 0.50% |
3/11/2020 | Monthly Budget Statement | -$236.8b | — | -$234.0b | — |
3/12/2020 | PPI Final Demand MoM | -0.10% | — | 0.50% | — |
3/12/2020 | PPI Ex Food and Energy MoM | 0.10% | — | 0.50% | — |
3/12/2020 | PPI Ex Food, Energy, Trade MoM | 0.10% | — | 0.40% | — |
3/12/2020 | PPI Final Demand YoY | 1.80% | — | 2.10% | — |
3/12/2020 | PPI Ex Food and Energy YoY | 1.70% | — | 1.70% | — |
3/12/2020 | Initial Jobless Claims | 220k | — | 216k | — |
3/12/2020 | PPI Ex Food, Energy, Trade YoY | 1.50% | — | 1.50% | — |
3/12/2020 | Continuing Claims | 1733k | — | 1729k | — |
3/12/2020 | Bloomberg Consumer Comfort | — | — | 63 | — |
3/12/2020 | Household Change in Net Worth | — | — | $574b | — |
3/13/2020 | Import Price Index MoM | -1.00% | — | 0.00% | — |
3/13/2020 | Import Price Index ex Petroleum MoM | 0.10% | — | 0.20% | — |
3/13/2020 | Import Price Index YoY | -1.50% | — | 0.30% | — |
3/13/2020 | Export Price Index MoM | -0.40% | — | 0.70% | — |
3/13/2020 | Export Price Index YoY | -0.60% | — | 0.50% | — |
3/13/2020 | Bloomberg March United States Economic Survey | ||||
3/13/2020 | U. of Mich. Sentiment | 95 | — | 101 | — |
3/13/2020 | U. of Mich. Current Conditions | 112.8 | — | 114.8 | — |
3/13/2020 | U. of Mich. Expectations | 88.1 | — | 92.1 | — |
3/13/2020 | U. of Mich. 1 Yr Inflation | 2.40% | — | 2.40% | — |
3/13/2020 | U. of Mich. 5-10 Yr Inflation | — | — | 2.30% | — |
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