November 18, 2020 Headlines

Treasuries and U.S. equity futures are little changed following a relatively quiet overnight session. New Covid-related lockdowns/restrictions continue to be rolled out in Europe and the U.S., but these headlines are being offset this morning by Pfizer’s announcement that it could be applying for FDA authorization of its Covid vaccine within days. The company reported that the final analysis of its vaccine showed 95% effectiveness. Four different Fed leaders will be speaking today at separate events, including Jim Bullard (St. Louis Fed) presenting his economic outlook. Bullard is known to make a headline or two with his comments, for better or worse.

Jason Haley
Chief Investment Officer

Date Event Survey Actual Prior Revised
11/16/20 Empire Manufacturing 13.5 6.3 10.5 —
11/17/20 Retail Sales Advance MoM 0.50% 0.30% 1.90% 1.60%
11/17/20 Retail Sales Ex Auto MoM 0.60% 0.20% 1.50% 1.20%
11/17/20 Retail Sales Ex Auto and Gas 0.60% 0.20% 1.50% 1.20%
11/17/20 Retail Sales Control Group 0.50% 0.10% 1.40% 0.90%
11/17/20 Import Price Index MoM 0.00% -0.10% 0.30% 0.20%
11/17/20 Import Price Index ex Petroleum MoM 0.30% 0.00% 0.70% 0.60%
11/17/20 Import Price Index YoY -0.80% -1.00% -1.10% -1.40%
11/17/20 Export Price Index MoM 0.20% 0.20% 0.60% —
11/17/20 Export Price Index YoY — -1.60% -1.80% —
11/17/20 Industrial Production MoM 1.00% 1.10% -0.60% -0.40%
11/17/20 Capacity Utilization 72.30% 72.80% 71.50% 72.00%
11/17/20 Manufacturing (SIC) Production 1.00% 1.00% -0.30% 0.10%
11/17/20 Business Inventories 0.60% 0.70% 0.30% —
11/17/20 NAHB Housing Market Index 85 90 85 —
11/17/20 Net Long-term TIC Flows — $108.9b $27.8b —
11/17/20 Total Net TIC Flows — -$79.9b $86.3b $85.0b
11/18/20 MBA Mortgage Applications — -0.30% -0.50% —
11/18/20 Housing Starts 1460k 1530k 1415k 1459k
11/18/20 Housing Starts MoM 3.20% 4.90% 1.90% 6.30%
11/18/20 Building Permits 1567k 1545k 1553k 1545k
11/18/20 Building Permits MoM 1.40% 0.00% 5.20% 4.70%
11/19/20 Initial Jobless Claims 700k — 709k —
11/19/20 Philadelphia Fed Business Outlook 22.5 — 32.3 —
11/19/20 Continuing Claims 6400k — 6786k —
11/19/20 Bloomberg Economic Expectations — — 43 —
11/19/20 Bloomberg Consumer Comfort — — 48 —
11/19/20 Leading Index 0.70% — 0.70% —
11/19/20 Existing Home Sales 6.46m — 6.54m —
11/19/20 Existing Home Sales MoM -1.30% — 9.40% —
11/19/20 Kansas City Fed Manf. Activity 11 — 13 —

 

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