October 14, 2020 Headlines

The US Treasury curve bull-flattened overnight as Brexit talks remain stalled ahead of the upcoming summit and European countries continue to talk about implementing new lockdowns. In the US, additional stimulus measures are at an impasse with the Senate planning on voting through a targeted $500 billion relief bill next week while the House of Representatives focus on a comprehensive $2.2 trillion package. There are four Federal Reserve speakers on the schedule for today and all are expected to mirror San Francisco Fed President Daly’s recent comments that the US economy is “well positioned to weather this storm we are in, and it remains to be seen if more will be needed”.

Chris Eckhoff
Associate, Investment Management Group

Date Event Survey Actual Prior Revised
10/13/20 NFIB Small Business Optimism 100.9 104 100.2 —
10/13/20 CPI MoM 0.20% 0.20% 0.40% —
10/13/20 CPI Ex Food and Energy MoM 0.20% 0.20% 0.40% —
10/13/20 CPI YoY 1.40% 1.40% 1.30% —
10/13/20 CPI Ex Food and Energy YoY 1.70% 1.70% 1.70% —
10/13/20 CPI Index NSA 260.327 260.28 259.92 —
10/13/20 CPI Core Index SA 269.341 269.26 268.75 —
10/13/20 Real Avg Weekly Earnings YoY — 4.10% 3.90% 3.80%
10/13/20 Real Avg Hourly Earning YoY — 3.30% 3.30% 3.20%
10/14/20 MBA Mortgage Applications — -0.70% 4.60% —
10/14/20 PPI Final Demand MoM 0.20% 0.40% 0.30% —
10/14/20 PPI Ex Food and Energy MoM 0.20% 0.40% 0.40% —
10/14/20 PPI Ex Food, Energy, Trade MoM 0.20% 0.40% 0.30% —
10/14/20 PPI Final Demand YoY 0.20% 0.40% -0.20% —
10/14/20 PPI Ex Food and Energy YoY 1.00% 1.20% 0.60% —
10/14/20 PPI Ex Food, Energy, Trade YoY 0.50% 0.70% 0.30% —
10/14/20 Monthly Budget Statement -$124.0b — $82.8b —
10/15/20 Empire Manufacturing 14 — 17 —
10/15/20 Initial Jobless Claims 825k — 840k —
10/15/20 Continuing Claims 10550k — 10976k —
10/15/20 Import Price Index MoM 0.30% — 0.90% —
10/15/20 Import Price Index ex Petroleum MoM 0.50% — 0.70% —
10/15/20 Import Price Index YoY -1.20% — -1.40% —
10/15/20 Export Price Index MoM 0.30% — 0.50% —
10/15/20 Export Price Index YoY — — -2.80% —
10/15/20 Philadelphia Fed Business Outlook 14.5 — 15 —
10/15/20 Bloomberg Consumer Comfort — — 48 —
10/16/20 Retail Sales Advance MoM 0.80% — 0.60% —
10/16/20 Retail Sales Ex Auto MoM 0.40% — 0.70% —
10/16/20 Retail Sales Ex Auto and Gas 0.50% — 0.70% —
10/16/20 Retail Sales Control Group 0.30% — -0.10% —
10/16/20 Industrial Production MoM 0.60% — 0.40% —
10/16/20 Capacity Utilization 71.80% — 71.40% —
10/16/20 Manufacturing (SIC) Production 0.60% — 1.00% —
10/16/20 Business Inventories 0.40% — 0.10% —
10/16/20 U. of Mich. Sentiment 80.5 — 80.4 —
10/16/20 U. of Mich. Current Conditions 88.5 — 87.8 —
10/16/20 U. of Mich. Expectations 77 — 75.6 —
10/16/20 U. of Mich. 1 Yr Inflation — — 2.60% —
10/16/20 U. of Mich. 5-10 Yr Inflation — — 2.70% —
10/16/20 Net Long-term TIC Flows — — $10.8b —
10/16/20 Total Net TIC Flows — — -$88.7b —

 

 

 

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