Schedule for Week of September 20, 2020

The key reports this week are August New and Existing Home sales.

For manufacturing, the Richmond and Kansas City Fed manufacturing surveys will be released this week.

Fed Chair Powell testifies three times this week.

—– Monday, September 21st —–

8:30 AM ET: Chicago Fed National Activity Index for August. This is a composite index of other data.

12:00 PM: Q2 Flow of Funds Accounts of the United States from the Federal Reserve.

—– Tuesday, September 22nd —–

Existing Home Sales10:00 AM: Existing Home Sales for August from the National Association of Realtors (NAR). The consensus is for 6.00 million SAAR, up from 5.86 million in July.

The graph shows existing home sales from 1994 through the report last month.

Housing economist Tom Lawler expects the NAR to report 5.92 million SAAR.

10:00 AM: Richmond Fed Survey of Manufacturing Activity for September.

10:30 AM: Testimony, Fed Chair Jerome Powell, Coronavirus Aid, Relief, and Economic Security Act, Before the Committee on Financial Services, U.S. House of Representatives

—– Wednesday, September 23rd —–

7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

9:00 AM: FHFA House Price Index for July. This was originally a GSE only repeat sales, however there is also an expanded index.

10:00 AM: Testimony, Fed Chair Jerome Powell, Coronavirus Response, Before the Select Subcommittee on Coronavirus Crisis, U.S. House of Representatives

During the day: The AIA’s Architecture Billings Index for August (a leading indicator for commercial real estate).

—– Thursday, September 24th —–

8:30 AM: The initial weekly unemployment claims report will be released. Initial claims were 860 thousand the previous week.

New Home Sales10:00 AM: New Home Sales for August from the Census Bureau.

This graph shows New Home Sales since 1963. The dashed line is the sales rate for last month.

The consensus is for 900 thousand SAAR, essentially unchanged from 901 thousand in July.

10:00 AM: Testimony, Fed Chair Jerome Powell, Coronavirus Aid, Relief, and Economic Security Act, Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate

11:00 AM: the Kansas City Fed manufacturing survey for September.

—– Friday, September 25th —–

8:30 AM: Durable Goods Orders for August from the Census Bureau. The consensus is for a 1.5% decrease in durable goods orders.

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