| Today's Economy
Economic Roundup: Risks of a U.S. Fiscal Policy Error Remain Elevated Additional stimulus is needed sooner, rather than later. LatAm Daily Briefing: Mexico's Formal Job Losses Top 1 Million The decline is greater than that registered during the global financial crisis. Europe Daily Briefing: A 'Reverse Radical' Recovery Is Underway The German Ifo and the French INSEE showed the economies came back to life in June. FOMC’s Long-Term Forecast for Fed Funds May Be Too High With an aging demographic, the U.S. will struggle to have GDP above 2%. » VIEW MORE TODAY'S ECONOMY
Commentary
Risks Rise for State and Local Budgets: COVID Stress Test Update The biggest question remains how much, if any, help is on the way. CECL Q2: Anything but Ordinary The recession of 2020 will go down in history for both its speed and magnitude. U.S. Chartbook: The Pendulum Swings Manufacturing optimism returned in full force. U.S. Employment Outlook: Short but Not Sweet The COVID-19-fueled downturn will be remembered for its breadth and depth, not the brief duration. » VIEW MORE COMMENTARY
Today's Economic Indicators
Canada
RPS House Price Index
May. 2020: 5.7%
United States
MBA Mortgage Applications Survey
June 19: -8.7%
Mortgage applications decreased by 8.7% over the week of June 19, after rising by 8% in the previous week. United States
FHFA Purchase-Only House Price Index
Apr. 2020: 5.5%
The FHFA Purchase-Only House Price Index increased 5.5% on a year-ago basis in April. United States
Moody’s Analytics Policy Uncertainty Index
June 19: 222.0
The four-week moving average in our U.S. policy uncertainty index increased from 221.6 to 222 in the week ended June 19. United States
Oil Inventories
June 19: 540.7 mil barrels
The increase in oil inventories was slightly higher than analyst predictions, a net negative for oil prices. Singapore
GDP - Advanced
2020Q2:
Argentina
Retail Sales Index
Apr. 2020: -97.6%
The index that tracks nominal sales at Buenos Aires’ largest shopping centers dropped 97.6% y/y in April after falling 30.8% in the previous month. » VIEW MORE ECONOMIC INDICATORS | 
