September 23, 2020 Headlines

The bond market is fairly quiet this morning as investors wait for Chairman Powell’s Congressional testimony. The MBA mortgage applications index saw a rise of 6.8% last week after a decline of 2.5% the week prior. Purchase applications rose by 3.4% while refis ticked up by 8.8%. The average 30-year rate rose by 3 bps to 3.10%. Continuing with housing data, the FHFA home price index came in at +1%, 0.5% higher than expected. The increase in home prices was led by rising prices in the northeast.

Hafizan Hamzah
Director, Investment Management Group

Date Event Survey Actual Prior Revised
9/21/20 Chicago Fed Nat Activity Index 1.19 0.79 1.18 2.54
9/21/20 Household Change in Net Worth — $7607b -$6548b -$7229b
9/22/20 Existing Home Sales 6.00m 6.00m 5.86m —
9/22/20 Existing Home Sales MoM 2.40% 2.40% 24.70% —
9/22/20 Richmond Fed Manufact. Index 12 21 18 —
9/23/20 MBA Mortgage Applications — 6.80% -2.50% —
9/23/20 FHFA House Price Index MoM 0.50% 1.00% 0.90% 1.00%
9/23/20 Markit US Manufacturing PMI 53.5 — 53.1 —
9/23/20 Markit US Services PMI 54.7 — 55 —
9/23/20 Markit US Composite PMI — — 54.6 —
9/24/20 Initial Jobless Claims 840k — 860k —
9/24/20 Continuing Claims 12300k — 12628k —
9/24/20 Bloomberg Consumer Comfort — — 47.7 —
9/24/20 New Home Sales 890k — 901k —
9/24/20 New Home Sales MoM -1.20% — 13.90% —
9/24/20 Kansas City Fed Manf. Activity 14 — 14 —
9/25/20 Durable Goods Orders 1.30% — 11.40% —
9/25/20 Durables Ex Transportation 1.10% — 2.60% —
9/25/20 Cap Goods Orders Nondef Ex Air 1.00% — 1.90% —
9/25/20 Cap Goods Ship Nondef Ex Air 0.80% — 2.40% —

 

 

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