Franklin Madison Advisors

Hi, I’m Peter Donisanu, President of Franklin Madison Advisors. I left a two-decade corporate career at a Wall Street Bank to start my own financial planning and investment management firm. Franklin Madison Advisors exists to help people connect their financial wealth with their life goals, especially during this time of economic and market volatility. What makes us different is that our goal is to provide service and advice and not to sell financial products. We provide pr...actical financial solutions for people's complex life situations. We work with early career professionals, mid-career entrepreneurs and late career business owners and professionals looking to create, grow and preserve their financial wealth. Message us today if you have questions about what's going on in the economy, markets or your finances in general.

Durable goods orders have been a critical leading indicator of economic growth. Recent reports have shown slowing demand, suggesting waning growth momentum heading into the fourth quarter.

One key release due out today is the Chicago Fed's National Activity index. This measure of US economic activity has shown a rebound from April's low. Even so, recent data suggest the current recovery has started to stall.

Later this morning Markit will publish an October read on its US PMI indices. While the manufacturing series is closely watched, the services index is of particular note given the lockdown's acute impact on this sector of the economy.

Top of mind for market participants today will be existing home sales. Housing data has surprised to the upside in recent months as record-low lower interest rates and greater demand for #WFH alternatives have driven transactions.

The Fed's Beige Book, due out later today, will be closely watch by market participants. Last month's survey showed that business activity and household spending generally rose across Fed Districts, yet activity generally remained subdued compared to pre-COVID levels.

Solid retail sales data out of #China this month. Why does it matter? This report from @BrookingsInst underscores the growing importance of China's middle class consumers on MNC corporate #earnings. https://www.brookings.edu//FP_20201012_china_middle_class_

US building permits will be closely watched by market participants today as this key leading economic indicator has strengthened since April. Even so, data have become increasingly disconnected from broader measures of growth like household spending and sentiment.

China's National Bureau of Statistics will publish its latest report on total social financing later today. The broad measure of lending across the Chinese economy has gained pace this year and is arguably supportive of the country's growth rebound in the third quarter.

Because 2020 didn't already have enough going on, North Korea and its nuclear threat is likely to come back into the forefront post-elections. https://www.japantimes.co.jp//asi/north-korea-new-missile/

"While the renminbi has the potential to become a significant reserve currency, it is unlikely to attain safe haven status in the absence of far-reaching reforms to China’s institutional and political structures." https://www.brookings.edu//the-renminbi-rises-but-will-no/

Biden is gaining in the polls, but anything can happen in the days leading up to the election. Even so, a few investment opportunities may open up if the former VP can clinch the Presidential win in November. https://broadviewmacro.franklinmadisonadvisors.com//look-/

Highly anticipated US retail sales data are due out later this morning. Consensus expectations are set for September data to show another modest gain in household spending, reflecting stabilizing yet subdued consumer confidence.

Only weeks away from its departure from the EU, the UK remains poised for a hard exit without a trade deal in hand. The outcome could lead to food shortages and manufacturing disruptions as EU-UK supply chains face disruptions. https://www.spiegel.de//a-looming-disaster-brexit-threaten