October 5, 2020 Headlines

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.

Jason Haley
Chief Investment Officer

10/5/20Markit US Services PMI54.654.654.6
10/5/20Markit US Composite PMI54.354.4
10/5/20ISM Services Index56.257.856.9
10/6/20Trade Balance-$66.2b-$63.6b
10/6/20JOLTS Job Openings65006618
10/7/20MBA Mortgage Applications-4.80%
10/7/20FOMC Meeting Minutes
10/7/20Consumer Credit$14.000b$12.250b
10/8/20Initial Jobless Claims820k837k
10/8/20Continuing Claims11400k11767k
10/8/20Bloomberg Consumer Comfort49.3
10/9/20Bloomberg Oct. United States Economic Survey
10/9/20Wholesale Inventories MoM0.50%0.50%
10/9/20Wholesale Trade Sales MoM4.60%



Subscribe Today!

Subscribe to our email list and get the latest articles and announcements from ALM First.

ALM First offers investment advisory services through ALM First Financial Advisors, LLC, which is registered with the U.S. Securities and Exchange Commission (“SEC”). SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the firm has attained a particular level of skill or ability. The information contained herein does not constitute investment advice or a recommendation for you to purchase or sell any specific security. You are solely responsible for reviewing the content and for any actions you take or choose not to take based on your review of such content.Information contained herein was derived from third party sources as indicated. While such information is believed to be reliable, no representation or warranty is made concerning the accuracy of any information presented. We have not and will not independently verify this information. Where such sources include opinions and projections, such opinions and projections should be ascribed only to the applicable third party source and not to ALM First.Statements herein that reflect projections or expectations of future financial or economic performance are forward-looking statements. Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct. Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or actual performance. No representation or warranty can be given that the estimates, opinions or assumptions made herein will prove to be accurate. Any projections and forward-looking statements included herein should be considered speculative and are qualified in their entirety by the information and risks disclosed in the confidential offering document. Actual results for any period may or may not approximate such forward-looking statements. No representations or warranties whatsoever are made by ALM First Financial Advisors, LLC or any other person or entity as to the future profitability of investments recommended by ALM First Financial Advisors, LLC.