November 24, 2020 Headlines

The curve is essentially unchanged this morning while equity futures are higher following the news that the General Services Administration stated that the President-elect could start the transition process. While Biden’s team had already begun an informal process, the GSA’s recent announcement now grants them access to federal agencies, which they had previously been barred from. This news brought provided more clarity, which markets tend to appreciate.

Risk assets also received a boost with reports surfacing that for Fed Chair Janet Yellen may become the next Treasury Secretary. Her recent statements that the recovery could be choppy without fiscal stimulus are giving investors hope that a new round of aid will be granted.

Hafizan Hamzah
Director, Investment Management Group

Date TimeEventSurveyActualPriorRevised
11/23/2020Chicago Fed Nat Activity Index0.270.830.270.32
11/23/2020Markit US Manufacturing PMI5356.753.4
11/23/2020Markit US Services PMI5557.756.9
11/23/2020Markit US Composite PMI57.956.3
11/24/2020FHFA House Price Index MoM0.80%1.70%1.50%
11/24/2020House Price Purchase Index QoQ3.10%0.80%1.00%
11/24/2020S&P CoreLogic CS 20-City MoM SA0.70%1.27%0.47%1.35%
11/24/2020S&P CoreLogic CS 20-City YoY NSA5.30%6.57%5.18%5.33%
11/24/2020S&P CoreLogic CS 20-City NSA Index232.53229.35229.68
11/24/2020S&P CoreLogic CS US HPI YoY NSA6.96%5.71%5.81%
11/24/2020S&P CoreLogic CS US HPI NSA Index226.8223.97224.2
11/24/2020Conf. Board Consumer Confidence9896.1100.9101.4
11/24/2020Conf. Board Present Situation105.9104.6106.2
11/24/2020Conf. Board Expectations89.598.498.2
11/24/2020Richmond Fed Manufact. Index201529
11/25/2020MBA Mortgage Applications-0.30%
11/25/2020Initial Jobless Claims730k742k
11/25/2020Continuing Claims6000k6372k
11/25/2020Advance Goods Trade Balance-$80.4b-$79.4b
11/25/2020Wholesale Inventories MoM0.40%0.40%
11/25/2020Retail Inventories MoM0.60%1.60%
11/25/2020GDP Annualized QoQ33.10%33.10%
11/25/2020Personal Consumption40.90%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 Air0.50%1.00%
11/25/2020Cap Goods Ship Nondef Ex Air0.40%0.50%
11/25/2020Bloomberg Consumer Comfort49.8
11/25/2020Personal Income-0.10%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 Sales975k959k
11/25/2020New Home Sales MoM1.70%-3.50%
11/25/2020FOMC Meeting Minutes

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