October 28, 2020 Headlines

Treasury yields are lower again this morning as surging COVID cases and renewed lockdowns continue to weigh on investor sentiment. European stocks closed in the red in the overnight session while US futures are pointing to a lower open.

The MBA mortgage applications index rose by 1.7% last week as refis increased by 2.5% up from 0.2% the week prior. Purchase applications also rose, albeit at a fairly modest 0.2% compared to a 2.1% decline the week prior. The average 30-year fixed rate was 3% which is the lowest level since the index began in 1989.

Hafizan Hamzah
Director, Investment Management Group

10/26/20Chicago Fed Nat Activity Index0.730.270.791.11
10/26/20New Home Sales1025k959k1011k994k
10/26/20New Home Sales MoM1.40%-3.50%4.80%3.00%
10/26/20Dallas Fed Manf. Activity13.519.813.6
10/27/20Durable Goods Orders0.50%1.90%0.50%0.40%
10/27/20Durables Ex Transportation0.40%0.80%0.60%1.00%
10/27/20Cap Goods Orders Nondef Ex Air0.50%1.00%1.90%2.10%
10/27/20Cap Goods Ship Nondef Ex Air0.40%0.30%1.50%
10/27/20FHFA House Price Index MoM0.70%1.50%1.00%1.10%
10/27/20S&P CoreLogic CS 20-City MoM SA0.50%0.47%0.55%0.75%
10/27/20S&P CoreLogic CS 20-City YoY NSA4.20%5.18%3.95%4.12%
10/27/20S&P CoreLogic CS 20-City NSA Index229.35226.55226.92
10/27/20S&P CoreLogic CS US HPI YoY NSA5.71%4.78%4.78%
10/27/20S&P CoreLogic CS US HPI NSA Index223.97221.64221.63
10/27/20Conf. Board Consumer Confidence102100.9101.8101.3
10/27/20Conf. Board Present Situation104.698.598.9
10/27/20Conf. Board Expectations98.4104102.9
10/27/20Richmond Fed Manufact. Index182921
10/28/20MBA Mortgage Applications1.70%-0.60%
10/28/20Advance Goods Trade Balance-$84.5b-$79.4b-$82.9b-$83.1b
10/28/20Wholesale Inventories MoM0.40%-0.10%0.40%0.30%
10/28/20Retail Inventories MoM0.50%1.60%0.80%0.50%
10/29/20Initial Jobless Claims770k787k
10/29/20Continuing Claims7700k8373k
10/29/20GDP Annualized QoQ32.00%-31.40%
10/29/20Personal Consumption38.90%-33.20%
10/29/20GDP Price Index2.90%-1.80%
10/29/20Core PCE QoQ4.00%-0.80%
10/29/20Bloomberg Consumer Comfort46.6
10/29/20Pending Home Sales MoM3.00%8.80%
10/29/20Pending Home Sales NSA YoY20.50%
10/30/20Personal Income0.40%-2.70%
10/30/20Personal Spending1.00%1.00%
10/30/20Real Personal Spending0.80%0.70%
10/30/20PCE Deflator MoM0.20%0.30%
10/30/20PCE Deflator YoY1.50%1.40%
10/30/20PCE Core Deflator MoM0.20%0.30%
10/30/20Employment Cost Index0.50%0.50%
10/30/20PCE Core Deflator YoY1.70%1.60%
10/30/20MNI Chicago PMI5862.4
10/30/20U. of Mich. Sentiment81.281.2
10/30/20U. of Mich. Current Conditions84.9
10/30/20U. of Mich. Expectations78.8
10/30/20U. of Mich. 1 Yr Inflation2.70%
10/30/20U. of Mich. 5-10 Yr Inflation2.40%



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