May 28, 2020 Headlines

Financial markets are relatively quiet to start the day. U.S. equity futures are modestly higher ahead of the open, and Treasury yields are unchanged to slightly higher across the curve. Tensions between the U.S. and China are leading the headlines again this morning. The House passed the Uighur Bill late yesterday with a 413-1 vote that would authorize sanctions against China over human rights abuses against Muslim minorities, and Chinese parliament move forward with its Hong Kong security law that aims to tackle secession, subversion, terrorism, and foreign interference in the city. U.S. officials are pushing for the U.N. Security Council to address the Hong Kong situation, which China is opposing as a “baseless request.” Separately, the U.S. plans to join a G-7 led effort to advise companies and governments on the responsible development of artificial intelligence (AI), particularly as it relates to privacy and civil liberties. The Trump administration has generally moved away from multilateral partnerships but said that this effort was important as a check on China’s approach to AI.

Jason Haley
Chief Investment Officer

5/26/2020Chicago Fed Nat Activity Index-3.5-16.74-4.19-4.97
5/26/2020House Price Purchase Index QoQ1.70%1.30%1.40%
5/26/2020FHFA House Price Index MoM0.50%0.10%0.70%0.80%
5/26/2020S&P CoreLogic CS 20-City MoM SA0.30%0.47%0.45%0.52%
5/26/2020S&P CoreLogic CS 20-City YoY NSA3.44%3.92%3.47%3.52%
5/26/2020S&P CoreLogic CS 20-City NSA Index222.21219.75219.86
5/26/2020S&P CoreLogic CS US HPI YoY NSA4.35%4.16%
5/26/2020S&P CoreLogic CS US HPI NSA Index214.96213.16
5/26/2020Revisions: New Home Sales
5/26/2020New Home Sales480k623k627k619k
5/26/2020New Home Sales MoM-23.40%0.60%-15.40%-13.70%
5/26/2020Conf. Board Consumer Confidence8786.686.985.7
5/26/2020Conf. Board Expectations96.993.894.3
5/26/2020Conf. Board Present Situation71.176.473
5/26/2020Dallas Fed Manf. Activity-61-49.2-73.7
5/27/2020MBA Mortgage Applications2.70%-2.60%
5/27/2020Richmond Fed Manufact. Index-40-27-53
5/27/2020U.S. Federal Reserve Releases Beige Book
5/28/2020Durable Goods Orders-19.00%-17.20%-14.70%-16.60%
5/28/2020Durables Ex Transportation-15.00%-7.40%-0.40%-1.70%
5/28/2020Cap Goods Orders Nondef Ex Air-10.00%-5.80%-0.10%-1.10%
5/28/2020Cap Goods Ship Nondef Ex Air-12.20%-5.40%-0.20%-1.20%
5/28/2020GDP Annualized QoQ-4.80%-5.00%-4.80%
5/28/2020Personal Consumption-7.50%-6.80%-7.60%
5/28/2020GDP Price Index1.30%1.40%1.30%
5/28/2020Core PCE QoQ1.80%1.60%1.80%
5/28/2020Initial Jobless Claims2100k2123k2438k2446k
5/28/2020Continuing Claims25680k21052k25073k24912k
5/28/2020Bloomberg Consumer Comfort34.7
5/28/2020Pending Home Sales MoM-17.30%-20.80%
5/28/2020Pending Home Sales NSA YoY-28.70%-14.50%
5/28/2020Kansas City Fed Manf. Activity-21-30
5/29/2020Advance Goods Trade Balance-$65.0b-$64.2b-$64.4b
5/29/2020Wholesale Inventories MoM-0.70%-0.80%
5/29/2020Retail Inventories MoM-0.80%0.90%
5/29/2020Personal Income-6.00%-2.00%
5/29/2020Personal Spending-12.80%-7.50%
5/29/2020Real Personal Spending-12.90%-7.30%
5/29/2020PCE Deflator MoM-0.60%-0.30%
5/29/2020PCE Deflator YoY0.50%1.30%
5/29/2020PCE Core Deflator MoM-0.30%-0.10%
5/29/2020PCE Core Deflator YoY1.10%1.70%
5/29/2020MNI Chicago PMI4035.4
5/29/2020U. of Mich. Sentiment7473.7
5/29/2020U. of Mich. Current Conditions83
5/29/2020U. of Mich. Expectations67.7
5/29/2020U. of Mich. 1 Yr Inflation3.00%
5/29/2020U. of Mich. 5-10 Yr Inflation2.60%


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