Succinct Summations for the week ending September 11th, 2020
1. Markets rally back from deep multi day sell off. 2. Home mortgage apps rose 3.0% w/o/w, improved 0.2%. 3. CPI rose 0.4% m/o/m, above expectations. 4. Job openings rose from 6.002M to 6.618M in June, above expectations.
1. We learned that POTUS was aware in January how dangerous Covid-19 was but purposefully downplayed the risk; 2. Jobless claims remained unchanged for the week at 884k, above expectations. 3. Consumer credit came in at $12.3B for July, below expectations. 4. Wholesale inventories fell 0.3%, below expectations.