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The Monday Mix: Oct. 26 – Nov. 1, 2020

Headlines discussed at LNWM’s Monday morning briefing:

U.S. consumer spending beats forecasts, 1.4% vs 1.0% expected, in September while inflation also remained muted which could allow the Federal Reserve to keep interest rates near zero for longer.

The Federal Reserve lowered the minimum loan level for small business lending program to $100k from $250k in an effort to broaden the use of the lending facility.

Overall durable goods orders jumped 1.9% in September vs expectations of 0.5%; driven by primary metals, computer, and electronic products.

U.S. new home sales failed to beat forecasts, 959k vs 1025k; however, record low mortgage rates continue to underpin demand.

ECB declines to add stimulus early as Germany and France announce new lockdowns; France and Germany on Wednesday separately announced new one-month lockdowns to fight the second wave of the COVID-19 pandemic.

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