0.2 -0...sources which Bespoke Investment Group, LLC believes to be reliable, but we do not guarantee its accuracy. Neither the information, nor any opinions expressed, constitute

Time Event Estimate Date Act.vs. Est. S&P

8:30 Empire Manufacturing 13.8 10/15 -3.5 -0.66

Last Report

Time Event Estimate Date Est Act. Diff. S&P Best Worst

8:30 PPI 0.1 10/14 0.2 0.4 0.2 -0.66 Indu C Disc

8:30 Core PPI 0.2 10/14 0.2 0.4 0.2 -0.66 Indu C Disc

10:00 Michigan Sentiment 82.0 10/30 81.2 81.8 0.6 -1.21 Finl C Disc

7:00 Fed's Williams Speaks on FT Panel

8:30 Fed's Bullard Discusses Monetary Policy

10:30 EIA Natural Gas Storage (-3)

13:00 Baker Hughes Rig Count (303)

Last Report

Upgrades

Ticker Firm From To

BKH B of A Neutral Buy

DIS RBC Capital Mkt Perf Outperf

DLR Citigroup Neutral Buy

MGLN Stephens Mkt Wgt Overwgt

TDOC Baird Neutral Outperf

UTZ Piper Neutral Overwgt

Downgrades

Ticker Firm From To

CCMP Citigroup Neutral Sell

DOW Bernstein Outperf Mkt Perf

DOW Deutsche Buy Hold

KOD Goldman Buy Neutral

LYB Bernstein Outperf Mkt Perf

PLTR M Stanley Overwgt Mkt Wgt

Initiations/Reiterations

Ticker Firm Action Rating

AMAT RBC Capital Reiterated Outperf

BIGC Citigroup Initiated Sell

CHWY Piper Initiated Overwgt

FND Barclays Initiated Overwgt

JBLU BNP Paribas Initiated Underperf

SPR Credit Suisse Resumed Neutral

- US Futures Rally as Ten Year Yield Slightly Lower.i -0.5 %

i -1.1

h 0.3

i -0.4

Oil 40.52 i -$0.6

Gold 1884.2 h $10.9

$/Euro 0.846 i 0.00

$/Yen 104.92 i -0.2

10-Yr 0.88 i 0.00

Japan

China

Germany

UK

Trading Up ($):

AMZN (16.67), NVDA (8.33), FTCH (6.3), FSLY (5.46), DIS (5.23), DKNG (3.21)

Trading Down ($):

BIGC (-3.82), MRNA (-0.62), LYB (-0.46), U (-0.44), PLTR (-0.33), VXRT (-0.07)-1.00

-0.80

-0.60

-0.40

-0.20

0.00

0.20

0.40

0.60

0.80

1.00

16:00 18:00 20:00 22:00 0:00 2:00 4:00 6:00

Pe

rce

nt

Ch

ange

Asia Opens

Europe Opens

Today’s Events

Stock Specific News of Note

Noteworthy Macro EventsOther MarketsOvernight Trading

Tomorrow

Overnight Trading

Analyst Actions

Indicators/EventsMarket Timing Model

© Copyright 2020, Bespoke Investment Group, LLC. The information herein was obtained fromsources which Bespoke Investment Group, LLC believes to be reliable, but we do not guarantee itsaccuracy. Neither the information, nor any opinions expressed, constitute a solicitation of thepurchase or sale of any securities or related instruments. Bespoke Investment Group, LLC is notresponsible for any losses incurred from any use of this information.

Earnings Reports

Economic Indicators & Events

BespokePremium.com

For Personal Use Only—Do Not Forward1

Ticker News

AMAT Beat EPS forecasts by 8 cents (1.25 vs 1.17) on stronger revenues; raised guidance.

BZH Beat EPS forecasts by 24 cents (0.82 vs 0.58) on stronger revenues.

CSCO Beat EPS forecasts by 6 cents (0.76 vs 0.70) on stronger revenues; raised guidance.

DDR Reported an unexpected profit on weaker revenues; comps down 24%.

DIS Reported narrower than expected loss (-0.20 vs -0.65) on stronger sales; will forgo dividend.

DKNG Reported narrower than expected loss (-0.57 vs -0.63) on inline revenues; raised guidance.

DLB Beat EPS forecasts by 11 cents (0.45 vs 0.34) on stronger revenues; guidance mixed.

FTCH Beat EPS forecasts by 8 cents (-0.17 vs -0.25) on stronger revenues.

PLTR Beat EPS forecasts by 5 cents (0.08 vs 0.03) on stronger revenues; raised guidance.

SPB Beat EPS forecasts by 44 cents (1.72 vs 1.28) on stronger revenues; raised guidance.

Bearish Bullish

Category One Week Two Weeks One Month

Sentiment 0.11 0.28 0.43

Technicals 0.16 0.22 0.38

Fundamental 0.15 0.28 0.16

Overall 0.12 0.27 0.38

Average (all days) 0.15 0.29 0.58

Expected S&P 500 Return (%)

Neutral

Index Changes

Ticker Date TOD EPS Revs.

ACM 11/16/20 AM 0.57 3,271

AZUL 11/16/20 AM -1.42 157

PANW 11/16/20 AM 1.33 921

TSN 11/16/20 AM 1.19 11,033

BIDU 11/16/20 PM 2.05 4

SDC 11/16/20 PM -0.14 146

1/0/1900 1/0/00 0 0.00 0

1/0/1900 1/0/00 0 0.00 0

1/0/1900 1/0/00 0 0.00 0

1/0/1900 1/0/00 0 0.00 0

1/0/1900 1/0/00 0 0.00 0

1/0/1900 1/0/00 0 0.00 0

1/0/1900 1/0/00 0 0.00 0

1/0/1900 1/0/00 0 0.00 0

1/0/1900 1/0/00 0 0.00 0

Estimate

14:00 Fed's Clarida Discusses Economic Outlook

PSX 0.90 CSL 0.53

RGA 0.70 VMC 0.34

BKH 0.57

Conferences & Meetings

Dividends & Splits

FBNC Will replace AMG in the S&P 600 effective 11/13.

MTG Will replace GEO in the S&P 400 effective 11/13.

GEO Will replace GPOR in the S&P 600 effective 11/13.

HALO Will replace MD in the S&P 400 effective 11/13.

MD Will replace WPG in the S&P 600 effective 11/13.

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Commodity Current 1 Wk Ago

$/Euro N N

$/Yen N OS

2-Year OS N

10-Year OS N

Gold OS OB

Silver N N

Copper OB OB

Crude Oil OB N

Heating Oil OB N

Gasoline N N

Natural Gas N N

OS N OB

Ticker Price

SBAC 296.97 -1.19 1.44 62.5

AKAM 98.23 -1.53 1.20 59.7

Standard Deviations

Below 50-Day Avg

Avg % Return

(One Week)

Percent of

Time Positive

Ticker Price

EXPE 117.5 2.44 -1.11 51.4

Standard Deviations

Above 50-Day Avg

Avg % Return

(One Week)

Percent of

Time Positive

-0.40

-0.35

-0.30

-0.25

-0.20

-0.15

-0.10

-0.05

0.00

0.05

0.10

Nov-19 Jan-20 Mar-20 May-20 Jul-20 Sep-20 Nov-20

Bonds Outperforming Stocks

Stocks Outperforming Bonds

Ticker % Chg. Occ. Chg. Percent Up Chg. Percent Up

FOSL 24.5 28 0.0 39.3 -3.7 35.7

FLGT 17.4 38 -0.9 36.8 -0.7 50.0

COHU 6.3 40 0.0 62.5 0.1 55.0

RGEN 6.1 23 -1.0 34.8 -0.2 43.5

CCMP -15.4 7 6.3 100.0 0.4 42.9

ENR -14.8 6 6.4 100.0 -0.8 50.0

SBH -9.6 40 0.4 65.0 1.6 60.0

CPE -9.4 100 -0.9 47.0 -1.6 41.0

Average Return (%)

Next Day Next Week

Index/Sector Current 1 Wk Ago

S&P 500 OB OB

Cons Discret. N OB

Cons Staples OB N

Energy OB N

Financials OB N

Health Care OB OB

Industrials OB OB

Materials OB OB

Technology OB N

Comm. Svcs OB OB

Utilities OB OB

OS N OB

S&P 500 50-Day Moving Average Spread S&P 500 Internals Yesterday’s Movers

Relative Strength of Stocks versus Bonds

S&P 500 Overbought and Oversold Stocks (Percentage) Trading Ranges: Sectors

Trading Ranges: Bonds/Commodities

S&P 500 Overbought Stocks Most Likely to Fall

S&P 500 Oversold Stocks Most Likely to Rise

Nov-19 Jan-20 Mar-20 May-20 Jul-20 Sep-20 Nov-20

Extreme Overbought

Overbought

Oversold

Extreme Oversold

6.6

60.4

0

10

20

30

40

50

60

70

80

90

100

Oct-19 Dec-19 Feb-20 Apr-20 Jun-20 Aug-20 Oct-20

Green indicates percentage of oversold stocks, and red indicates percentage of overbought stocks.

OBOS

Indicator Change50-Day Moving Avg Spread h 4.1 % 3.2 %10-Day A/D Line h 918 284# of Overbought Stocks h 302 226# of Oversold Stocks i 33 60

P/E Ratio Trailing h 27.67 27.42 Forward h 25.68 25.30

Dividend Yield i 1.69 % 1.71 %

Net Earnings Revisions 21.5 % 21.5 %

Credit Spreads (bps)High Yield i 437 479Corporate Bonds i 119 130

Current One Week Ago


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BBG US Dollar Index: Last Six Months

BBG US Dollar Index: Last 15 Trading Days

1140

1160

1180

1200

1220

1240

1260

5/20 6/17 7/15 8/12 9/9 10/7 11/4

1140

1160

1180

1200

1220

1240

1260

5/20 6/17 7/15 8/12 9/9 10/7 11/4

50-DMA: 1168

200-DMA: 1206

1145

1150

1155

1160

1165

1170

1175

1180

10/23 10/27 10/29 11/2 11/4 11/6 11/10 11/12

1158

Gold Future: Last Six Months

Gold Front Month Future: Last 15 Trading Days

1550

1650

1750

1850

1950

2050

2150

5/15 6/15 7/14 8/11 9/9 10/7 11/4

1550

1650

1750

1850

1950

2050

2150

5/15 6/15 7/14 8/11 9/9 10/7 11/4

1835

1855

1875

1895

1915

1935

1955

1975

10/23 10/27 10/29 11/2 11/4 11/6 11/10 11/12

200-DMA: 1794

50-DMA: 19151882

S&P 500: Last Six Months

S&P 500: Last 15 Trading Days

2650

2800

2950

3100

3250

3400

3550

3700

5/15 6/15 7/14 8/11 9/9 10/7 11/4

2650

2800

2950

3100

3250

3400

3550

3700

5/15 6/15 7/14 8/11 9/9 10/7 11/4

3210

3260

3310

3360

3410

3460

3510

3560

3610

3660

3710

10/23 10/27 10/29 11/2 11/4 11/6 11/10 11/12

200-DMA: 3138

50-DMA: 3403

3537

Russell 2000: Last Six Months

Russell 2000: Last 15 Trading Days

1175

1275

1375

1475

1575

1675

1775

5/15 6/15 7/14 8/11 9/9 10/7 11/4

200-DMA: 1448

1520

1570

1620

1670

1720

1770

10/23 10/27 10/29 11/2 11/4 11/6 11/10 11/12

50-DMA: 1579

1708

Nasdaq Composite: Last Six Months

Nasdaq Composite: Last 15 Trading Days

8450

8950

9450

9950

10450

10950

11450

11950

12450

5/15 6/15 7/14 8/11 9/9 10/7 11/4

8450

8950

9450

9950

10450

10950

11450

11950

12450

5/15 6/15 7/14 8/11 9/9 10/7 11/4

50-DMA: 11294

200-DMA: 9935

10700

10900

11100

11300

11500

11700

11900

12100

12300

10/23 10/27 10/29 11/2 11/4 11/6 11/10 11/12

11710

Oil Future: Last Six Months

Oil Future: Last 15 Trading Days

5/15 6/15 7/14 8/11 9/9 10/7 11/4

22

27

32

37

42

47

5/15 6/15 7/14 8/11 9/9 10/7 11/4

200-DMA: 37

34.0

35.0

36.0

37.0

38.0

39.0

40.0

41.0

42.0

43.0

10/23 10/27 10/29 11/2 11/4 11/6 11/10 11/12

50-DMA: 39

40.97


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DJ Transports: Last Six Months

DJ Transports: Last 15 Trading Days

7800

8300

8800

9300

9800

10300

10800

11300

11800

12300

12800

5/15 6/15 7/14 8/11 9/9 10/7 11/4

7800

8300

8800

9300

9800

10300

10800

11300

11800

12300

12800

5/15 6/15 7/14 8/11 9/9 10/7 11/4

200-DMA: 9805

10850

11050

11250

11450

11650

11850

12050

12250

12450

10/23 10/27 10/29 11/2 11/4 11/6 11/10 11/12

50-DMA: 11499

11839

Long Bond Future: Last Six Months

Long Bond Future Intraday: Last 15 Trading Days

167

169

171

173

175

177

179

181

183

5/20 6/18 7/17 8/14 9/14 10/12 11/9

167

169

171

173

175

177

179

181

183

5/20 6/18 7/17 8/14 9/14 10/12 11/9

200-DMA: 175

169

170

171

172

173

174

175

176

10/23 10/27 10/29 11/2 11/4 11/6 11/10 11/12

50-DMA: 175

172.34


For Personal Use Only—Do Not Forward

BespokePremium.com © Copyright 2020, Bespoke Investment Group, LLC. The information herein was obtained from

sources which Bespoke Investment Group, LLC believes to be reliable, but we do not guarantee its

accuracy. Neither the information, nor any opinions expressed, constitute a solicitation of the

purchase or sale of any securities or related instruments. Bespoke Investment Group, LLC is not

responsible for any losses incurred from any use of this information.

4

Morning Commentary Overview: US equity markets are poised to gap up 75 bps at the open thanks to a rally off 9:00 PM ET

overnight lows for futures. Those gains have given way a bit since US traders started up, and are ignor-

ing a 1.4% drop in oil. Gold is up, the dollar is down, and Treasuries are basically unchanged. Global

Economic Scorecard

Earnings: In Japan last night, we got a range of interesting reports including strong trading numbers

from Mitsubishi UFJ (ADR MUFG) and Mizuho (ADR MFG) which led both of those lenders to boost full

year forecasts for the period ended next March. Sumitomo Mitsui (ADR SMFG) also reported results.

MUFG’s net income raise of 9.1% was still over 6% below where analysts have full year net income

forecasted. Tiremaker Bridgestone (ADR BRDCY) raised full year sales forecast but did miss estimates

in its report. Industrial component manufacturer SMC (ADR SMCAY) missed estimates for fiscal Q2 op-

erating income by 10% and reiterated a full year operating income guide 17.4% below analyst fore-

casts. The company cited strong China semis and auto demand but “sluggish” demand elsewhere.

In the US this morning, sports gambling name DraftKings (DKNG) beat revenue estimates by 1% and

raised full year revenue estimates to 3.1% above forecasts at the midpoint thanks to an 87% QoQ surge

and 65% gain in monthly unique payers; guidance assumes all sports calendars announced for the rest

of the year are actually played which given the surge in COVID may be a bit aggressive. Canadian movie

theater operator Cineplex (CGX in Canada) reported revenues down 87% YoY and wider EBITDA losses

than forecast thanks to a 91.1% attendance drop.

Asia Markets: Japan’s TOPIX dropped 1.3% and China’s onshore CSI 300 was off 1% as risk sentiment

waned in the region overnight. Taiwan, Korea, and India finished higher while Singapore, Malaysia, and

Indonesia finished closer to flat. Regional FX was broadly stronger versus the dollar, while iron ore fell a

second straight day as it retreats towards a downward-sloping 50-DMA.

Chinese banks and insurers were under special pressure this week after a default by Yongcheng Coal &

Electricity, following up news that government officials were reviewing the finances of chipmaker

Tisnhua Unigroup, one of the largest in the country. The CSI 300 banks index has dropped 3% over the

last two days, though corporate bond spreads continue to trend lower.

Europe Markets: The second read on Eurozone GDP came in 0.1% QoQ slower than the first estimate,

still a record pace of growth that exceeds the US Q3 rebound but currently leaves the Eurozone further

below the high water mark for GDP than the US. COVID stats in Europe are showing definite signs of

improvement depending on the country; France and Spain are peaking and dropping while the UK and

Germany have stabilized with new cases moving sideways. Surges in case counts for Belgium and the

Netherlands have been receding for some time now as the massive outbreaks in those countries is be-

coming under better control.

The STOXX 600 is flat on basically even breadth this morning, without an obvious COVID tilt; Tech, In-

surance, Autos, and Banks lead while Telecom, Media, and Personal Care/Drug Stores/Groceries lag.

Credit markets are biased slightly tighter in spread but are little changed, with peripheral sovereigns

outperforming a rates rally in German sovereigns. In FX, EURCHF remains near the top of its five month

range, while no progress has been made in post-Brexit trade deal negotiations.

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5

Coronavirus: At a surface level, the COVID data in the US is hard to spin: 149,200 confirmed new cases,

a positive test rate of 9.2%, and over 200 people/million hospitalized nationally.

That said, we are starting to see “green shoots” in the pace of case growth. Week-over-week cases

rose 52.5% Tuesday, 40% Wednesday, and 28.8% yesterday. In mathematical terms, the second deriva-

tive of daily cases is negative, or in plain English cases are rising but have stopped accelerating. This

may be relatively fleeting, but it’s of course a necessary condition for case growth to peak out and

eventually fall. If we can see the modest round of new restrictions introduced by state and local gov-

ernments, the adaptation of behavior to colder weather, and the natural epidemic burnout of large

surges start to play out in coming days, that will be welcome.

On the other hand, keep in mind that hospitalizations and more depressingly deaths lag cases, and

both are likely to keep moving higher sharply for some time even if new cases per day peak soon. WoW

hospitalization growth rates are still rising, unlike cases.

Morning Commentary

Note: population denominator excludes

states not reporting hospitalization data on a

given date.

US National COVID Tracking Statistics As-Of 11/12/2020

3

5

7

9

11

13

15

17

19

21

23

0

200

400

600

800

1000

1200

1400

16007 Day Average Tests Per Day ('000s)

7d Avg Positive Test Rate

0

500

1000

1500

2000

2500

3000

Deaths Per Day

7 Day Average

0

10

20

30

40

50

60

70

80

90

100

110

120

130

140

150

New Confirmed Cases ('000s)

7 Day Average

0

50

100

150

200

250

Hospitalization RatePer mm Population








6

COVID By State: The table below includes a wide range of COVID-19 data points by state, as a refer-

ence. We will update it daily on this page.

Morning Commentary

State

AK 2 1 520 141 10,953 -17,270 4.7 2.3 1.0 710.4 192.5 14,972.0 -23,607.4

AL 27 11 1,640 210 6,168 -1,214 26.6 5.4 2.2 334.4 42.8 1,257.9 -247.6

AR 15 -5 1,521 428 11,035 1,375 13.8 5.1 -1.7 504.0 141.9 3,656.5 455.7

AZ 22 -2 1,971 501 13,840 2,273 14.2 3.0 -0.3 270.7 68.8 1,901.4 312.3

CA 42 3 6,719 2,194 153,673 19,017 4.4 1.1 0.1 170.0 55.5 3,889.2 481.3

CO 8 0 3,538 1,048 34,022 5,718 10.4 1.3 0.0 614.3 182.0 5,907.9 992.9

CT 10 3 1,263 318 29,080 219 4.3 2.8 0.9 354.2 89.2 8,156.4 61.3

DC 1 0 118 31 4,433 56 2.7 1.4 0.4 167.0 43.9 6,280.7 78.9

DE 2 -2 256 85 4,408 557 5.8 2.3 -1.6 263.0 87.0 4,526.8 572.4

FL 59 14 5,064 486 64,901 -2,726 7.8 2.8 0.7 235.8 22.6 3,021.8 -126.9

GA 43 -50 1,689 43 19,322 -2,964 8.7 4.1 -4.7 159.1 4.1 1,819.8 -279.1

GU 1 0 121 56 712 129 17.0 5.2 -0.9 729.3 337.1 4,294.7 775.8

HI 0 0 107 15 4,677 345 2.3 0.3 -0.3 75.8 10.5 3,303.6 243.6

IA 18 3 3,553 1,303 6,907 1,545 51.4 5.8 0.9 1,126.1 413.0 2,189.3 489.6

ID 10 1 1,258 325 3,110 615 40.5 5.5 0.3 704.0 182.1 1,740.3 344.4

IL 76 24 11,827 4,173 91,730 9,420 12.9 6.0 1.9 933.4 329.3 7,238.9 743.3

IN 43 7 4,970 1,620 42,320 6,463 11.7 6.4 1.1 738.2 240.7 6,286.3 960.0

KS 18 7 2,430 977 5,710 1,331 42.6 6.3 2.4 834.1 335.4 1,959.8 457.0

KY 13 2 2,058 347 38,098 14,067 5.4 2.8 0.5 460.5 77.7 8,527.5 3,148.7

LA 15 2 1,098 437 15,832 2,136 6.9 3.1 0.5 236.2 93.9 3,405.6 459.5

MA 22 3 2,147 776 77,630 1,918 2.8 3.2 0.5 308.9 111.6 11,170.6 276.0

MD 11 3 1,419 480 29,883 2,590 4.7 1.9 0.6 234.8 79.4 4,942.9 428.5

ME 1 1 162 49 8,244 253 2.0 1.0 0.5 120.6 36.3 6,133.2 188.3

MI 50 25 5,846 1,814 56,416 5,821 10.4 5.0 2.5 585.3 181.7 5,649.0 582.8

MN 34 15 5,276 2,054 36,596 7,413 14.4 6.0 2.6 935.5 364.2 6,489.1 1,314.4

MO 33 4 4,114 1,416 20,514 -997 20.1 5.4 0.6 670.2 230.7 3,342.4 -162.4

MP 0 0 1 0 68 68 0.8 0.0 0.0 10.4 0.0 1,237.2 1,226.8

MS 16 2 968 211 6,205 741 15.6 5.2 0.7 325.3 70.9 2,084.8 249.1

MT 9 -1 866 -7 5,418 787 16.0 8.7 -0.7 810.4 -7.0 5,069.5 736.5

NC 23 -15 2,542 165 39,119 1,176 6.5 2.2 -1.5 242.4 15.7 3,729.8 112.1

ND 12 0 1,334 90 8,234 -528 16.2 15.9 -0.2 1,750.1 117.9 10,804.5 -693.0

NE 9 3 2,008 673 14,042 2,298 14.3 4.6 1.6 1,037.9 347.9 7,259.1 1,188.0

NH 1 1 237 89 6,538 558 3.6 0.9 0.5 174.6 65.4 4,808.6 410.5

NJ 13 3 2,824 1,014 43,792 8,718 6.4 1.5 0.3 317.9 114.1 4,930.3 981.5

NM 14 4 1,255 337 14,063 2,975 8.9 6.7 2.1 598.4 160.7 6,706.9 1,418.7

NV 8 0 1,360 388 10,935 1,220 12.4 2.6 0.0 441.5 125.9 3,550.3 396.0

NY 23 9 3,850 1,616 148,002 12,102 2.6 1.2 0.5 197.9 83.1 7,608.0 622.1

OH 28 2 5,612 1,865 52,956 5,711 10.6 2.4 0.1 480.1 159.5 4,530.4 488.6

OK 10 -6 2,117 734 10,991 -1,491 19.3 2.5 -1.4 535.0 185.5 2,777.6 -376.7

OR 5 0 863 285 6,693 945 12.9 1.2 0.0 204.6 67.5 1,586.8 224.2

PA 37 12 4,041 1,514 20,515 2,486 19.7 2.9 0.9 315.7 118.3 1,602.5 194.2

RI 4 0 716 225 14,362 881 5.0 3.8 0.1 676.1 212.5 13,557.4 831.5

SC 13 -2 1,264 258 21,094 6,874 6.0 2.6 -0.3 245.6 50.0 4,097.0 1,335.1

SD 12 1 1,366 202 2,422 190 56.4 13.7 1.0 1,544.6 228.3 2,737.5 214.8

TN 40 5 3,565 1,438 30,835 10,480 11.6 5.8 0.7 521.7 210.4 4,512.6 1,533.6

TX 99 9 8,407 1,525 78,498 10,125 10.7 3.4 0.3 289.9 52.6 2,707.2 349.2

UT 8 3 2,764 814 14,829 2,558 18.6 2.5 0.9 862.1 253.8 4,625.4 797.8

VA 11 3 1,546 258 19,227 -116 8.0 1.3 0.4 181.2 30.2 2,252.6 -13.6

VI 0 0 3 -2 83 -54 3.8 0.0 -2.7 30.0 -17.7 793.8 -512.0

VT 0 0 50 27 4,518 759 1.1 0.2 0.2 79.7 42.6 7,240.5 1,216.4

WA 9 0 1,219 256 17,847 -1,604 6.8 1.2 0.1 160.0 33.7 2,343.7 -210.7

WI 50 12 6,572 1,305 41,222 6,661 15.9 8.6 2.1 1,128.7 224.1 7,079.8 1,143.9

WV 11 5 621 181 10,172 1,966 6.1 6.0 3.0 346.8 101.2 5,676.1 1,096.9

WY 3 1 724 310 1,582 332 45.8 5.4 1.0 1,251.4 535.1 2,733.4 573.4

US 1,046 119 129,379 37,096 1,434,478 134,906 9.2 3.2 0.4 389.8 111.8 4,322.3 406.5

Week

Change

COVID-19 Outbreak Statistics By State: Level, Growth, and Per Capita (As-Of 11/12/2020)Raw Count (7 Day Average) 7 Day +ve

Test Rate

(%)

Per 1mm Population

Deaths

Day/Day

Week

Change

Cases

Day/Day

Week

Change

Tests

Day/Day

Week

Change

Deaths

Day/Day

Week

Change

Cases

Day/Day

Week

Change

Tests

Day/Day








7

Morning Commentary

% of % of

State Trend Peak Cases State Trend Peak Cases

IL Rising 100.0 11827 AK Rising 100.0 1039

WI Rising 100.0 6572 NH Rising 100.0 475

MI Rising 100.0 5846 ME Rising 100.0 324

OH Rising 100.0 5612 VT Rising 100.0 99

MN Rising 100.0 5276 GU Rising 99.3 242

IN Rising 100.0 4970 DE Rising 99.2 512

MO Rising 100.0 4114 ND Rising 98.9 2667

PA Rising 100.0 4041 IA Rising 98.6 7106

TN Rising 100.0 3565 MT Falling 98.0 1732

CO Rising 100.0 3538 MA Rising 94.8 4294

UT Rising 100.0 2764 CT Rising 94.4 2525

NC Rising 100.0 2542 AL Rising 85.5 3280

KS Rising 100.0 2430 WA Rising 85.3 2437

OK Rising 100.0 2117 TX Rising 85.0 16813

KY Rising 100.0 2058 NJ Rising 76.9 5648

NE Rising 100.0 2008 MS Rising 70.1 1937

VA Rising 100.0 1546 CA Rising 67.2 13438

AR Rising 100.0 1521 SC Rising 64.9 2529

MD Rising 100.0 1419 DC Rising 60.9 236

SD Rising 100.0 1366 AZ Rising 51.3 3941

NV Rising 100.0 1360 LA Rising 48.4 2196

ID Rising 100.0 1258 GA Rising 45.1 3378

NM Rising 100.0 1255 FL Rising 43.3 10128

OR Rising 100.0 863 HI Rising 42.1 215

WY Rising 100.0 724 NY Rising 39.8 7700

RI Rising 100.0 716 MP Falling 36.4 1

WV Rising 100.0 621 VI Falling 9.6 6

State State

SD Rising 4.2 56.4 MI Rising 2.4 10.4

IA Rising 9.5 51.4 NM Rising 0.6 8.9

WY Rising 12.6 45.8 GA Rising 1.4 8.7

KS Rising 9.4 42.6 VA Rising 1.4 8.0

ID Rising 3.1 40.5 FL Rising 1.0 7.8

AL Rising 7.2 26.6 LA Rising 2.1 6.9

MO Rising 7.5 20.1 WA Rising 1.9 6.8

PA Rising 5.7 19.7 NC Rising 0.2 6.5

OK Rising 8.2 19.3 NJ Rising 1.3 6.4

UT Rising 2.7 18.6 WV Rising 0.7 6.1

GU Rising 5.8 17.0 SC Falling -1.1 6.0

ND Rising 2.0 16.2 DE Rising 1.4 5.8

MT Falling -2.9 16.0 KY Falling -1.7 5.4

WI Rising 0.7 15.9 RI Rising 1.3 5.0

MS Rising 1.7 15.6 MD Rising 1.3 4.7

MN Rising 3.4 14.4 AK Rising 3.4 4.7

NE Rising 2.9 14.3 CA Rising 1.0 4.4

AZ Rising 1.5 14.2 CT Rising 1.1 4.3

AR Rising 2.5 13.8 VI Rising 0.1 3.8

IL Rising 3.6 12.9 NH Rising 1.1 3.6

OR Rising 2.8 12.9 MA Rising 1.0 2.8

NV Rising 2.4 12.4 DC Rising 0.7 2.7

IN Rising 2.4 11.7 NY Rising 1.0 2.6

TN Rising 1.1 11.6 HI Rising 0.2 2.3

TX Rising 0.6 10.7 ME Rising 0.5 2.0

OH Rising 2.7 10.6 VT Rising 0.5 1.1

CO Rising 1.6 10.4 MP Falling -99.2 0.8

State State

SD Rising 16.0 623 ID Rising 22.0 202

ND Rising 9.0 524 GA Rising 14.9 193

GU Falling -7.8 501 AZ Rising 24.4 188

MT Rising 20.5 467 CT Rising 62.4 173

NE Rising 26.8 458 PA Rising 37.3 172

IL Rising 35.1 415 WV Rising 8.9 171

IA Rising 44.0 383 SC Rising 7.3 157

IN Rising 31.9 382 AK Rising 8.7 154

MO Rising 26.7 366 DC Rising 31.3 154

WI Rising 17.1 357 VA Rising 23.4 154

WY Rising 43.3 332 UT Rising 18.3 151

MI Rising 40.7 321 LA Rising 6.3 145

OK Rising 18.3 315 MD Rising 46.8 143

NV Rising 27.2 306 FL Rising 21.4 143

KY Rising 19.0 293 DE Rising 11.5 129

TN Rising 16.0 289 NC Rising 7.2 122

KS Rising 42.9 278 CA Rising 15.6 101

AR Rising 27.2 267 MA Rising 32.7 95

MS Rising 20.9 260 NY Rising 31.3 86

OH Rising 45.7 259 OR Rising 6.2 81

AL Rising 24.0 251 WA Rising 28.2 65

TX Rising 16.3 239 HI Rising 35.1 54

MN Rising 42.7 236 NH Rising 56.8 51

NM Rising 22.4 229 ME Rising 63.2 46

CO Rising 34.4 226 VT Rising 214.3 35

RI Rising 27.5 219 VI Falling n/a 0

NJ Rising 49.3 206 MP Falling n/a 0

6 Month COVID-19 Per Capita Hospitalization By State/Territory: 7 Day Moving Average As-Of 11/12/20

Trend

WoW %

Chg

Hospital

Rate Trend

WoW %

Chg

Hospital

RateHospitalization Rate: Distribution & Trajectory Hospitalization Rate: Distribution & Trajectory

Positive Test Rate: Distribution & Trajectory Trend

WoW

Change

Positive

Rate

New Cases Per Day: Distribution & Trajectory New Cases Per Day: Distribution & Trajectory

6 Month COVID-19 Case Count By State: 7 Day Moving Average As-Of 11/12/20

6 Month COVID-19 Positive Test Rate By State/Territory: 7 Day Moving Average As-Of 11/12/20

Positive Test Rate: Distribution & TrajectoryTrend

WoW

Change

Positive

Rate








8

Morning Commentary Global New Cases Per Day Per mm Population (7d Avg)

0

50

100

150

200

250

300

350

400

450

500

World

Americas Ex US

EU

East Asia

Africa

US

Rest of World

0

10

20

30

40

50

60

70

80

World

East Asia

Africa

0

50

100

150

200

250

Ethiopia

Ghana

Kenya

Nigeria

South Africa

0

50

100

150

200

250

300

350

400

450

Canada

Brazil

Chile

Mexico

US

0

100

200

300

400

500

600

700

800

900

FranceGermanyItalySpainUnited KingdomSweden

0

20

40

60

80

100

120

140

160

180

200

China

Japan

South Korea

Singapore








9

US Calendar: PPI data and preliminary University of Michigan consumer confidence data are due this

morning, while NY Fed President Williams has already spoken (nothing notable was said) and St. Louis

Fed President Bullard is due at 8:30 AM ET. To stay on top of all the latest reports, make sure to check

out our Interactive Earnings Calendar. You can also follow US and Global data with our Economic

Scorecard.

Morning Commentary

Asset Level Change 5d Chg 3m Chart Asset Level Change 5d Chg 3m Chart

S&P 500 3551.00 -47.6 111.8 Gold 1869.80 44.0 -416.7

Russell 1721.40 -79.5 361.1 Silver 24.29 7.4 -463.4

VIX Fut 24.45 262.3 -1182.8 WTI 41.12 -79.6 677.7

TSX 999.60 2.0 361.8 Copper 314.05 20.7 90.0

2 Year 17.68 -0.4 3.2 Nikkei 25520.88 67.6 587.3

5 Year 42.35 -3.0 9.8 CSI 300 4908.46 7.3 47.8

10 Year 93.41 -4.1 17.1 ASX 200 6418.22 -48.8 453.8

30 Year 170.90 -3.3 18.5 STOXX 600 385.83 -70.3 509.6

2s10s 75.53 -3.5 14.1 BBG USD 1157.86 11.0 41.8

5s30s 128.39 -0.2 8.8 EURUSD 1.1796 16.1 -25.4

5 Yr BE 168.09 -0.5 12.2 USDJPY 105.36 -6.6 180.7

10 Yr BE 174.66 -0.8 9.5 EM FX 55.92 -5.0 104.4

Dec '20 99.76 1.5 -0.01 CDX IG 54.07 2.1 0.6

Mar '21 99.79 1.0 -0.01 iTraxx IG 51.54 2.3 -2.5

Jun '21 99.79 1.0 -0.01 CDX HY 343.08 3.2 -19.4

Sep '21 99.79 0.5 -0.02 iTraxx HY 296.97 1.3 -25.2

Euro

do

llar

s

Cre

dit

Bespoke Major Asset Class Dashboard

Equ

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Futs

Co

mm

od

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Trsy

Yie

lds

Int'

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s/B

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(bps)(bps)


https://www.bespokepremium.com/interactive-earnings-calendar/



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0.2 -0...sources which Bespoke Investment Group, LLC believes to be reliable, but we do not guarantee its accuracy. Neither the information, nor any opinions expressed, constitute