Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
Blog Home
Bob Carey
Chief Market Strategist
Click for Bio

Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube

  US Economy and Credit Markets Ended Nov. 20, 2020
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

U.S. Treasury bond yields fell across the yield curve last week with Treasury yields falling more on the longer-term end of the curve. Risk-on sentiment was spurred on Monday by Moderna's COVID-19 vaccine preliminary late-stage clinical trial data revealing an efficacy rate of 94.5%. On Tuesday, retail sales gains came in at 0.3% for the month of October, which was softer than the consensus, but gains were up to 0.7% with revisions. Industrial production picked up steam in October, beating the October consensus estimate of 1.0% by 10 basis points. Later in the week, October housing data came through, and continued to be strong. Housing starts for the month were up 4.9%, beating the consensus expectation, and up over 14% versus last year. While existing home sales increased 4.3% in October and have increased 26.6% versus last year. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Monday: November Preliminary Manufacturing PMI (53.0, 53.4); Tuesday: September FHFA House Price Index MoM (0.8%, 1.5%), November Conference Board Consumer Confidence (97.6, 100.9); Wednesday: November 20 MBA Mortgage Applications (N/A, -0.3%), November 20 Initial Jobless Claims (730k, 742k), November 21 Continuing Claims (5993k, 6372k), October Preliminary Wholesale Inventories MoM (n/a, 0.4%), 3Q Second GDP Annualized QoQ (33.1%, 33.1%), October Preliminary Durable Goods Orders (1.0%, 1.9%), October Personal Income (0.0%, 0.9%), October Personal Spending (0.3%, 1.4%),  November Final University of Michigan Sentiment (77.0, 77.0), October New Home Sales (975k, 959k).
Posted on Monday, November 23, 2020 @ 8:14 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
Market Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email

A Snapshot Of The S&P 500 Index Earnings Beat Rate
A Snapshot Of The U.S. Dollar
US Stock Markets Ended Nov. 13, 2020
US Economy and Credit Markets Ended Nov. 13, 2020
Every Year Looks Volatile Compared To 2017
A Snapshot Of Gold, Silver And The Miners
US Stock Markets Ended November 6, 2020
US Economy and Credit Markets Ended November 6, 2020
Sector Performance Via Market Capitalization (Since Trump Was Elected)
Passive vs. Active Fund Flows
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2023 All rights reserved.