Succinct Summations for the week ending July 17th, 2020
1. Markets were again up on the week despite very negative news flow;
2. CPI rose 0.6% m/o/m, above expectations.
3. Housing market index stands at 72 for July, above the expected 60.
4. Import and export prices both rose 1.4% m/o/m, exceeding expectations.
5. Industrial production rose 5.3% m/o/m, above expectations.
1. Covid Infections, Deaths spike, leading to reversal of several state re-openings;
2. Retail sales rose 7.5% m/o/m, below previous increase.
3. Jobless claims came in at 1.300M for the week, above expectations.for June, below expectations.
4. Housing starts came in at 1.186M; Home mortgage apps fell 6.0% w/o/w, below previous increase.
5. Business inventories fell 2.3% m/o/m, below previous decrease.