September 17, 2020 Headlines
Treasury yields are lower this morning while equities open in the red as concerns over fiscal stimulus weighed on investor sentiment. The FOMC statement from yesterday provided explicit forward guidance. Stating that the central bank will keep rates at zero until the labor market reaches maximum employment. Additionally, they will hold rates steady until inflations “has risen” to 2% and “is on track” to exceed 2% for some time. The Fed’s statement also added Average Inflation Targeting (AIT) to its guidance.
Hafizan Hamzah
Director, Investment Management Group
Date | Event | Survey | Actual | Prior | Revised |
9/15/20 | Empire Manufacturing | 6.9 | 17 | 3.7 | — |
9/15/20 | Import Price Index MoM | 0.50% | 0.90% | 0.70% | 1.20% |
9/15/20 | Import Price Index ex Petroleum MoM | 0.30% | 0.70% | 0.20% | — |
9/15/20 | Import Price Index YoY | -2.10% | -1.40% | -3.30% | -2.80% |
9/15/20 | Export Price Index MoM | 0.40% | 0.50% | 0.80% | 0.90% |
9/15/20 | Export Price Index YoY | -3.20% | -2.80% | -4.40% | -3.80% |
9/15/20 | Industrial Production MoM | 1.00% | 0.40% | 3.00% | 3.50% |
9/15/20 | Capacity Utilization | 71.40% | 71.40% | 70.60% | 71.10% |
9/15/20 | Manufacturing (SIC) Production | 1.30% | 1.00% | 3.40% | 3.90% |
9/16/20 | MBA Mortgage Applications | — | -2.50% | 2.90% | — |
9/16/20 | Retail Sales Advance MoM | 1.00% | 0.60% | 1.20% | 0.90% |
9/16/20 | Retail Sales Ex Auto MoM | 1.00% | 0.70% | 1.90% | 1.30% |
9/16/20 | Retail Sales Ex Auto and Gas | 0.90% | 0.70% | 1.50% | 1.10% |
9/16/20 | Retail Sales Control Group | 0.30% | -0.10% | 1.40% | 0.90% |
9/16/20 | Business Inventories | 0.10% | 0.10% | -1.10% | — |
9/16/20 | NAHB Housing Market Index | 78 | 83 | 78 | — |
9/16/20 | FOMC Rate Decision (Upper Bound) | 0.25% | 0.25% | 0.25% | — |
9/16/20 | FOMC Rate Decision (Lower Bound) | 0.00% | 0.00% | 0.00% | — |
9/16/20 | Interest Rate on Excess Reserves | 0.10% | 0.10% | 0.10% | — |
9/16/20 | Net Long-term TIC Flows | — | $10.8b | $113.0b | — |
9/16/20 | Total Net TIC Flows | — | -$88.7b | -$67.9b | -$69.8b |
9/17/20 | Initial Jobless Claims | 850k | 860k | 884k | 893k |
9/17/20 | Continuing Claims | 13000k | 12628k | 13385k | 13544k |
9/17/20 | Housing Starts | 1488k | 1416k | 1496k | 1492k |
9/17/20 | Housing Starts MoM | -0.60% | -5.10% | 22.60% | 17.90% |
9/17/20 | Building Permits | 1512k | 1470k | 1495k | 1483k |
9/17/20 | Building Permits MoM | 2.00% | -0.90% | 18.80% | 17.90% |
9/17/20 | Philadelphia Fed Business Outlook | 15 | 15 | 17.2 | — |
9/17/20 | Bloomberg Economic Expectations | — | 41.5 | 38 | — |
9/17/20 | Bloomberg Consumer Comfort | — | 47.7 | 47.8 | — |
9/18/20 | Current Account Balance | -$160.0b | — | -$104.2b | — |
9/18/20 | Leading Index | 1.30% | — | 1.40% | — |
9/18/20 | U. of Mich. Sentiment | 75 | — | 74.1 | — |
9/18/20 | U. of Mich. Current Conditions | 83.1 | — | 82.9 | — |
9/18/20 | U. of Mich. Expectations | 67.2 | — | 68.5 | — |
9/18/20 | U. of Mich. 1 Yr Inflation | 3.00% | — | 3.10% | — |
9/18/20 | U. of Mich. 5-10 Yr Inflation | — | — | 2.70% | — |
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