November 23, 2020 Headlines

Treasury yields are moving higher to begin Thanksgiving week amid a positive tone in risk markets. Preliminary November PMI data for Europe was mixed, at best, but not as bad as some had feared. On the vaccine front, the University of Oxford and AstraZenneca announced that its vaccine was 70% effective in preventing illness, and according to Moncef Slaoui, head of Operation Warp Speed, the first FDA-approved vaccines will be ready for use as soon as “the 11th or on the 12th of December.”  Preliminary November PMI data for the U.S. will be released later this morning, and the rest of this week’s economic data will be released before Thursday, including October durable goods orders and PCE on Wednesday.

Jason Haley
Chief Investment Officer

Date Time Event Survey Actual Prior Revised
11/23/2020 Chicago Fed Nat Activity Index 0.27 0.83 0.27 0.32
11/23/2020 Markit US Manufacturing PMI 53 53.4
11/23/2020 Markit US Services PMI 55 56.9
11/23/2020 Markit US Composite PMI 56.3
11/24/2020 FHFA House Price Index MoM 0.80% 1.50%
11/24/2020 House Price Purchase Index QoQ 0.80%
11/24/2020 S&P CoreLogic CS 20-City MoM SA 0.70% 0.47%
11/24/2020 S&P CoreLogic CS 20-City YoY NSA 5.25% 5.18%
11/24/2020 S&P CoreLogic CS 20-City NSA Index 229.35
11/24/2020 S&P CoreLogic CS US HPI YoY NSA 5.71%
11/24/2020 S&P CoreLogic CS US HPI NSA Index 223.97
11/24/2020 Conf. Board Consumer Confidence 97.6 100.9
11/24/2020 Conf. Board Present Situation 104.6
11/24/2020 Conf. Board Expectations 98.4
11/24/2020 Richmond Fed Manufact. Index 20 29
11/25/2020 MBA Mortgage Applications -0.30%
11/25/2020 Initial Jobless Claims 733k 742k
11/25/2020 Continuing Claims 6010k 6372k
11/25/2020 Advance Goods Trade Balance -$80.2b -$79.4b
11/25/2020 Wholesale Inventories MoM 0.40% 0.40%
11/25/2020 Retail Inventories MoM 1.60%
11/25/2020 GDP Annualized QoQ 33.10% 33.10%
11/25/2020 Personal Consumption 41.20% 40.70%
11/25/2020 GDP Price Index 3.60% 3.60%
11/25/2020 Core PCE QoQ 3.50% 3.50%
11/25/2020 Durable Goods Orders 0.90% 1.90%
11/25/2020 Durables Ex Transportation 0.50% 0.90%
11/25/2020 Cap Goods Orders Nondef Ex Air 0.60% 1.00%
11/25/2020 Cap Goods Ship Nondef Ex Air 0.30% 0.50%
11/25/2020 Bloomberg Consumer Comfort 49.8
11/25/2020 Personal Income 0.00% 0.90%
11/25/2020 Personal Spending 0.40% 1.40%
11/25/2020 Real Personal Spending 0.30% 1.20%
11/25/2020 PCE Deflator MoM 0.00% 0.20%
11/25/2020 PCE Deflator YoY 1.20% 1.40%
11/25/2020 PCE Core Deflator MoM 0.00% 0.20%
11/25/2020 PCE Core Deflator YoY 1.40% 1.50%
11/25/2020 U. of Mich. Sentiment 77 77
11/25/2020 U. of Mich. Current Conditions 85.8
11/25/2020 U. of Mich. Expectations 71.3
11/25/2020 U. of Mich. 1 Yr Inflation 2.80%
11/25/2020 U. of Mich. 5-10 Yr Inflation 2.60%
11/25/2020 New Home Sales 973k 959k
11/25/2020 New Home Sales MoM 1.50% -3.50%
11/25/2020 FOMC Meeting Minutes
11/30/2020 MNI Chicago PMI 59.2 61.1
11/30/2020 Pending Home Sales MoM -2.20%
11/30/2020 Pending Home Sales NSA YoY 21.90%
11/30/2020 Dallas Fed Manf. Activity 19.8

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