October 19, 2020 Headlines

Renewed hope for a new stimulus package is boosting risk assets this morning and pushing Treasury prices lower across the curve. Hope is likely the key word because there still appears to be a lot needed to get House Democrats, the White House, and Senate Republicans all on the same page before the election. House Speaker Pelosi set a 48-hour deadline over thew weekend (expires end of tomorrow) to approve any new fiscal aid before the November 3 election. This week’s economic data calendar is relatively light, although preliminary global PMI data (Markit) for October will be reported on Friday. Six different Fed leaders will be speaking today, including Jerome Powell.

Jason Haley
Chief Investment Officer

Date Event Survey Actual Prior Revised
10/19/20 NAHB Housing Market Index 83 83
10/20/20 Housing Starts 1460k 1416k
10/20/20 Housing Starts MoM 3.10% -5.10%
10/20/20 Building Permits 1520k 1470k 1476k
10/20/20 Building Permits MoM 3.00% -0.90% -0.50%
10/21/20 MBA Mortgage Applications -0.70%
10/21/20 U.S. Federal Reserve Releases Beige Book
10/22/20 Initial Jobless Claims 870k 898k
10/22/20 Continuing Claims 9775k 10018k
10/22/20 Bloomberg Economic Expectations 41.5
10/22/20 Bloomberg Consumer Comfort 48.2
10/22/20 Leading Index 0.70% 1.20%
10/22/20 Existing Home Sales 6.30m 6.00m
10/22/20 Existing Home Sales MoM 5.00% 2.40%
10/22/20 Kansas City Fed Manf. Activity 11 11
10/23/20 Markit US Manufacturing PMI 53.5 53.2
10/23/20 Markit US Services PMI 54.6 54.6
10/23/20 Markit US Composite PMI 54.3

 

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