September 14, 2020 Headlines

Treasuries are little changed following a quiet overnight session, and the news cycle was relatively uneventful this weekend from a market perspective. The headline event for this week is Wednesday’s FOMC meeting, which could include forward guidance enhancement in the wake of the recent policy framework changes. Fed Chair Powell is also likely to once again highlight the importance of additional fiscal support as Congress struggles to agree on another round of spending. August retail sales data will also be released on Wednesday, and market participants will continue to pay close attention to the weekly jobless claims data on Thursday.   

Jason Haley
Chief Investment Officer

9/15/20Empire Manufacturing73.7
9/15/20Import Price Index MoM0.50%0.70%
9/15/20Import Price Index ex Petroleum MoM0.30%0.20%
9/15/20Import Price Index YoY-2.20%-3.30%
9/15/20Export Price Index MoM0.40%0.80%
9/15/20Export Price Index YoY-4.40%
9/15/20Industrial Production MoM1.00%3.00%
9/15/20Capacity Utilization71.40%70.60%
9/15/20Manufacturing (SIC) Production1.30%3.40%
9/16/20MBA Mortgage Applications2.90%
9/16/20Retail Sales Advance MoM1.00%1.20%
9/16/20Retail Sales Ex Auto MoM0.90%1.90%
9/16/20Retail Sales Ex Auto and Gas0.90%1.50%
9/16/20Retail Sales Control Group0.30%1.40%
9/16/20Business Inventories0.10%-1.10%
9/16/20NAHB Housing Market Index787878
9/16/20FOMC Rate Decision (Upper Bound)0.25%0.25%
9/16/20FOMC Rate Decision (Lower Bound)0.00%0.00%
9/16/20Interest Rate on Excess Reserves0.10%0.10%
9/16/20Net Long-term TIC Flows$113.0b
9/16/20Total Net TIC Flows-$67.9b
9/17/20Building Permits1520k1495k1483k
9/17/20Building Permits MoM2.50%18.80%17.90%
9/17/20Housing Starts1483k1496k
9/17/20Housing Starts MoM-0.90%22.60%
9/17/20Philadelphia Fed Business Outlook1517.2
9/17/20Initial Jobless Claims850k884k
9/17/20Continuing Claims13000k13385k
9/17/20Bloomberg Economic Expectations38
9/17/20Bloomberg Consumer Comfort47.8
9/18/20Current Account Balance-$160.0b-$104.2b
9/18/20Leading Index1.30%1.40%
9/18/20U. of Mich. Sentiment7574.1
9/18/20U. of Mich. Current Conditions82.9
9/18/20U. of Mich. Expectations68.5
9/18/20U. of Mich. 1 Yr Inflation3.10%
9/18/20U. of Mich. 5-10 Yr Inflation2.70%


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