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

9/21/20Chicago Fed Nat Activity Index1.190.791.182.54
9/21/20Household Change in Net Worth$7607b-$6548b-$7229b
9/22/20Existing Home Sales6.00m6.00m5.86m
9/22/20Existing Home Sales MoM2.40%2.40%24.70%
9/22/20Richmond Fed Manufact. Index122118
9/23/20MBA Mortgage Applications6.80%-2.50%
9/23/20FHFA House Price Index MoM0.50%1.00%0.90%1.00%
9/23/20Markit US Manufacturing PMI53.553.1
9/23/20Markit US Services PMI54.755
9/23/20Markit US Composite PMI54.6
9/24/20Initial Jobless Claims840k860k
9/24/20Continuing Claims12300k12628k
9/24/20Bloomberg Consumer Comfort47.7
9/24/20New Home Sales890k901k
9/24/20New Home Sales MoM-1.20%13.90%
9/24/20Kansas City Fed Manf. Activity1414
9/25/20Durable Goods Orders1.30%11.40%
9/25/20Durables Ex Transportation1.10%2.60%
9/25/20Cap Goods Orders Nondef Ex Air1.00%1.90%
9/25/20Cap Goods Ship Nondef Ex Air0.80%2.40%



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