Following the worst trading session for US equities since 1987, the Treasury curve bear steepened overnight on risk-on flows due to liquidity injections from central banks, renewed hope on a fiscal stimulus package, and improvements to coronavirus testing. Yesterday’s European Central Bank meeting largely disappointed investors with the proposed stimulus plan viewed as too subdued to combat the fallout from the virus. In order to limit the damage, European governments have started to present measures to address the crisis with Germany going as far announcing it will have “no limit on the credit program for companies”. Both the US and European countries have faced criticisms in their current ability to test patients that may be infected by the virus. A swiss company was granted emergency approval by the FDA for an automated coronavirus test that would speed up the ability to test and identify patients potentially reducing the spread of the virus.
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 | 258.678 | 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 | -$235.3b | -$234.0b | — |
3/12/2020 | PPI Final Demand MoM | -0.10% | -0.60% | 0.50% | — |
3/12/2020 | PPI Ex Food and Energy MoM | 0.10% | -0.30% | 0.50% | — |
3/12/2020 | PPI Ex Food, Energy, Trade MoM | 0.10% | -0.10% | 0.40% | — |
3/12/2020 | PPI Final Demand YoY | 1.80% | 1.30% | 2.10% | — |
3/12/2020 | PPI Ex Food and Energy YoY | 1.70% | 1.40% | 1.70% | — |
3/12/2020 | PPI Ex Food, Energy, Trade YoY | 1.50% | 1.40% | 1.50% | — |
3/12/2020 | Initial Jobless Claims | 220k | 211k | 216k | 215k |
3/12/2020 | Continuing Claims | 1733k | 1722k | 1729k | 1733k |
3/12/2020 | Bloomberg Consumer Comfort | — | 62.7 | 63 | — |
3/12/2020 | Household Change in Net Worth | — | $3148b | $574b | $800b |
3/13/2020 | Import Price Index MoM | -1.00% | -0.50% | 0.00% | 0.10% |
3/13/2020 | Import Price Index ex Petroleum MoM | 0.10% | 0.20% | 0.20% | 0.10% |
3/13/2020 | Import Price Index YoY | -1.50% | -1.20% | 0.30% | — |
3/13/2020 | Export Price Index MoM | -0.40% | -1.10% | 0.70% | 0.60% |
3/13/2020 | Export Price Index YoY | -0.60% | -1.30% | 0.50% | 0.40% |
3/13/2020 | Bloomberg March United States Economic Survey | ||||
3/13/2020 | U. of Mich. Sentiment | 95 | 95.9 | 101 | — |
3/13/2020 | U. of Mich. Current Conditions | 112.8 | 112.5 | 114.8 | — |
3/13/2020 | U. of Mich. Expectations | 88.1 | 85.3 | 92.1 | — |
3/13/2020 | U. of Mich. 1 Yr Inflation | 2.40% | 2.30% | 2.40% | — |
3/13/2020 | U. of Mich. 5-10 Yr Inflation | — | 2.30% | 2.30% | — |
Subscribe Today!
Subscribe to our email list and get the latest articles and announcements from ALM First.