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

Date Event Survey Actual Prior Revised
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 Trade Balance -$66.2b — -$63.6b —
10/6/20 JOLTS Job Openings 6500 — 6618 —
10/7/20 MBA Mortgage Applications — — -4.80% —
10/7/20 FOMC Meeting Minutes — — — —
10/7/20 Consumer Credit $14.000b — $12.250b —
10/8/20 Initial Jobless Claims 820k — 837k —
10/8/20 Continuing Claims 11400k — 11767k —
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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