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 TimeEventSurveyActualPriorRevised
11/23/2020Chicago Fed Nat Activity Index0.270.830.270.32
11/23/2020Markit US Manufacturing PMI5353.4
11/23/2020Markit US Services PMI5556.9
11/23/2020Markit US Composite PMI56.3
11/24/2020FHFA House Price Index MoM0.80%1.50%
11/24/2020House Price Purchase Index QoQ0.80%
11/24/2020S&P CoreLogic CS 20-City MoM SA0.70%0.47%
11/24/2020S&P CoreLogic CS 20-City YoY NSA5.25%5.18%
11/24/2020S&P CoreLogic CS 20-City NSA Index229.35
11/24/2020S&P CoreLogic CS US HPI YoY NSA5.71%
11/24/2020S&P CoreLogic CS US HPI NSA Index223.97
11/24/2020Conf. Board Consumer Confidence97.6100.9
11/24/2020Conf. Board Present Situation104.6
11/24/2020Conf. Board Expectations98.4
11/24/2020Richmond Fed Manufact. Index2029
11/25/2020MBA Mortgage Applications-0.30%
11/25/2020Initial Jobless Claims733k742k
11/25/2020Continuing Claims6010k6372k
11/25/2020Advance Goods Trade Balance-$80.2b-$79.4b
11/25/2020Wholesale Inventories MoM0.40%0.40%
11/25/2020Retail Inventories MoM1.60%
11/25/2020GDP Annualized QoQ33.10%33.10%
11/25/2020Personal Consumption41.20%40.70%
11/25/2020GDP Price Index3.60%3.60%
11/25/2020Core PCE QoQ3.50%3.50%
11/25/2020Durable Goods Orders0.90%1.90%
11/25/2020Durables Ex Transportation0.50%0.90%
11/25/2020Cap Goods Orders Nondef Ex Air0.60%1.00%
11/25/2020Cap Goods Ship Nondef Ex Air0.30%0.50%
11/25/2020Bloomberg Consumer Comfort49.8
11/25/2020Personal Income0.00%0.90%
11/25/2020Personal Spending0.40%1.40%
11/25/2020Real Personal Spending0.30%1.20%
11/25/2020PCE Deflator MoM0.00%0.20%
11/25/2020PCE Deflator YoY1.20%1.40%
11/25/2020PCE Core Deflator MoM0.00%0.20%
11/25/2020PCE Core Deflator YoY1.40%1.50%
11/25/2020U. of Mich. Sentiment7777
11/25/2020U. of Mich. Current Conditions85.8
11/25/2020U. of Mich. Expectations71.3
11/25/2020U. of Mich. 1 Yr Inflation2.80%
11/25/2020U. of Mich. 5-10 Yr Inflation2.60%
11/25/2020New Home Sales973k959k
11/25/2020New Home Sales MoM1.50%-3.50%
11/25/2020FOMC Meeting Minutes
11/30/2020MNI Chicago PMI59.261.1
11/30/2020Pending Home Sales MoM-2.20%
11/30/2020Pending Home Sales NSA YoY21.90%
11/30/2020Dallas Fed Manf. Activity19.8

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