Positive reports on both President Trump’s health and fiscal stimulus negotiations are boosting risk assets and driving Treasury yields higher and steeper. In Europe, talks of additional restrictions in France and the U.K. are picking up in response to a surge of Covid cases. This week’s economic data calendar is relatively light. As has been the case for much of the pandemic, the weekly jobless claims report (Thursday) will receive greater market focus, and the minutes of the September 16 FOMC meeting will be released Wednesday afternoon. There will also be several Fed leaders speaking this week, include Fed Chair Powell as part of a National Association for Business Economics (NABE) tomorrow morning.
Chief Investment Officer
|10/5/20||Markit US Services PMI||54.6||54.6||54.6||—|
|10/5/20||Markit US Composite PMI||—||54.3||54.4||—|
|10/5/20||ISM Services Index||56.2||57.8||56.9||—|
|10/6/20||JOLTS Job Openings||6500||—||6618||—|
|10/7/20||MBA Mortgage Applications||—||—||-4.80%||—|
|10/7/20||FOMC Meeting Minutes||—||—||—||—|
|10/8/20||Initial Jobless Claims||820k||—||837k||—|
|10/8/20||Bloomberg Consumer Comfort||—||—||49.3||—|
|10/9/20||Bloomberg Oct. United States Economic Survey|
|10/9/20||Wholesale Inventories MoM||0.50%||—||0.50%||—|
|10/9/20||Wholesale Trade Sales MoM||—||—||4.60%||—|
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