November 20, 2023 Headlines

Treasury yields are 2 to 5 bps higher across the curve while equity futures are slightly lower ahead of the open. The economic calendar is light this holiday-shortened week. Eyes will be on tomorrow’s release of the most recent FOMC minutes as investors look to get a better idea of the Fed’s thinking in light of recent inflation prints.

Hafizan Hamzah
Senior Director, Investment Management Group

11/20/23Leading Index-0.70%-0.70%
11/21/23Chicago Fed Nat Activity Index00.02
11/21/23Philadelphia Fed Non-Manufacturing Activity-20.3
11/21/23Existing Home Sales3.90m3.96m
11/21/23Existing Home Sales MoM-1.50%-2.00%
11/21/23FOMC Meeting Minutes
11/22/23MBA Mortgage Applications2.80%
11/22/23Initial Jobless Claims225k231k
11/22/23Continuing Claims1875k1865k
11/22/23Durable Goods Orders-3.20%4.60%
11/22/23Durables Ex Transportation0.10%0.40%
11/22/23Cap Goods Orders Nondef Ex Air0.20%0.50%
11/22/23Cap Goods Ship Nondef Ex Air0.10%-0.10%
11/22/23U. of Mich. Sentiment6160.4
11/22/23U. of Mich. Current Conditions65.7
11/22/23U. of Mich. Expectations56.9
11/22/23U. of Mich. 1 Yr Inflation4.40%
11/22/23U. of Mich. 5-10 Yr Inflation3.20%
11/24/23S&P Global US Manufacturing PMI49.950
11/24/23S&P Global US Services PMI50.450.6
11/24/23S&P Global US Composite PMI50.350.7


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