Sunday, June 14, 2020

Succinct Summation of Week’s Events 6.12.20 (plus How is My State Doing on Key Measures?)

Below is the usual weekly summation, the big positive being the Fed's commitment to low rates and jobless claims falling, the big negative being the big spikes in COVID-19 infections in the many states that re-opened too early. On this same topic, the bonus this Sunday eve is a nice little one-eye shot graphic illustrating the progress being made in all 50 states on the pandemic recovery. Hope everyone enjoyed this beautiful weekend.

Succinct Summation of Week’s Events 6.12.20

June 12, 2020 4:30pm by Barry Ritholtz

Succinct Summations for the week ending June 12th, 2020

Positives:

1. FOMC Chair Powell says low rates are here til 2021 or longer;
2. Weekly Jobless claims fell 335k from 1.877M to 1.542M.
3. Home mortgage apps rose 5.0% for a second straight week.
4. PPI-FD rose 0.4% m/o/m, above the expected increase of 0.1%.
5. Consumer sentiment is at 78.9 for June, above the expected 75.0.

Negatives:

1. Re-Opening States are full blown disaster; South and West in particular see big increase in infection rates.
2. Fed Chair Powell see weak, slow economic recovery;
3. Same store sales fell 9.7% w/o/w.
4. Job openings fell from 6.011M to 5.046M in April, below expectations.
5. CPI fell 0.1% m/o/m below expectations.

6-14-20 How is My State Doing on Key Measures? - The Big Picture