Succinct Summations for the week ending April 10th, 2020
Positives:
1. Markets rally, making up half of the February/March 35% collapse.
2. Fed announced $2 trillion dollars in credit to mid-sized businesses;
3. Patient counts are falling in European hot spots, particularly Italy;
4. Job openings came in at 6.882M in February, above the expected 6.638M.
5. Consumer credit came in at $22.3B in February, above the expected $14.2B.
6. PPI-FD fell 0.2% m/o/m, above the previous decrease of 0.6%.
Negatives:
1. Covid-19 is now the single leading daily cause of death in America.
2. New Jobless claims added another 6.6M, bringing 3-week total to 16M.
3. Same store sales rose 5.3% w/o/w, below recent periods
4. Home mortgage apps fell 12.0% w/o/w after last week’s 11.0% decrease
5. CPI fell 0.4% m/o/m, below expectations;
6. Wholesale trade fell 0.7% m/o/m, below expectations.
Thanks, Matt.
