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%

 

 

Subscribe Today!

Subscribe to our email list and get the latest articles and announcements from ALM First.

Recent Articles

ALM First offers investment advisory services through ALM First Financial Advisors, LLC, which is registered with the U.S. Securities and Exchange Commission (“SEC”). SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the firm has attained a particular level of skill or ability. The information contained herein does not constitute investment advice or a recommendation for you to purchase or sell any specific security. You are solely responsible for reviewing the content and for any actions you take or choose not to take based on your review of such content. Information contained herein was derived from third party sources as indicated. While such information is believed to be reliable, no representation or warranty is made concerning the accuracy of any information presented. We have not and will not independently verify this information. Where such sources include opinions and projections, such opinions and projections should be ascribed only to the applicable third party source and not to ALM First. Statements herein that reflect projections or expectations of future financial or economic performance are forward-looking statements. Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct. Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or actual performance. No representation or warranty can be given that the estimates, opinions or assumptions made herein will prove to be accurate. Any projections and forward-looking statements included herein should be considered speculative and are qualified in their entirety by the information and risks disclosed in the confidential offering document. Actual results for any period may or may not approximate such forward-looking statements. No representations or warranties whatsoever are made by ALM First Financial Advisors, LLC or any other person or entity as to the future profitability of investments recommended by ALM First Financial Advisors, LLC.