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Author Jason Haley

Published

Estimated

Treasury yields are modestly higher and steeper to start the day following heavy government bond issuance from France and Spain. 

The Bank of England matched expectations, keeping rates unchanged, but the Swiss National Bank surprised markets with a 25 basis point rate cut. Initial jobless claims were slightly above expectations but down from the prior week at 238,000. Housing starts unexpectedly fell 5.5% m/m in May with both single-family and multifamily starts falling by a similar percentage amount. New building permits were also weaker than expected in May, falling 3.8%. Three Fed leaders will speak today, beginning with Neel Kashkari (Minneapolis Fed) this morning.

Jason Haley
Chief Investment Officer

DateEventSurveyActualPriorRevised
6/20/2024Current Account Balance-$206.8b-$237.6b-$194.8b-$221.8b
6/20/2024Initial Jobless Claims235k238k242k243k
6/20/2024Continuing Claims1810k1828k1820k1813k
6/20/2024Housing Starts1370k1277k1360k1352k
6/20/2024Building Permits1450k1386k1440k—
6/20/2024Housing Starts MoM0.70%-5.50%5.70%4.10%
6/20/2024Building Permits MoM0.70%-3.80%-3.00%—
6/20/2024Philadelphia Fed Business Outlook51.34.5—
6/21/2024S&P Global US Manufacturing PMI51—51.3—
6/21/2024S&P Global US Services PMI54—54.8—
6/21/2024S&P Global US Composite PMI53.5—54.5—
6/21/2024Leading Index-0.30%—-0.60%—
6/21/2024Existing Home Sales4.10m—4.14m—
6/21/2024Existing Home Sales MoM-1.00%—-1.90%—
6/24/2024Bloomberg June United States Economic Survey    
6/24/2024Dallas Fed Manf. Activity——-19.4—
6/25/2024Philadelphia Fed Non-Manufacturing Activity——-0.6—
6/25/2024Chicago Fed Nat Activity Index——-0.23—
6/25/2024FHFA House Price Index MoM——0.10%—
6/25/2024S&P CoreLogic CS 20-City MoM SA——0.33%—
6/25/2024S&P CoreLogic CS US HPI YoY NSA——6.49%—
6/25/2024S&P CoreLogic CS 20-City YoY NSA——7.38%—
6/25/2024Conf. Board Consumer Confidence100—102—
6/25/2024Conf. Board Present Situation——143.1—
6/25/2024Conf. Board Expectations——74.6—
6/25/2024Richmond Fed Manufact. Index——0—
6/25/2024Richmond Fed Business Conditions——-9—
6/25/2024Dallas Fed Services Activity——-12.1—
6/26/2024MBA Mortgage Applications——0.90%—
6/26/2024New Home Sales650k—634k—
6/26/2024New Home Sales MoM2.50%—-4.70%—
6/27/2024GDP Annualized QoQ1.50%—1.30%—
6/27/2024Wholesale Inventories MoM——0.10%—
6/27/2024Personal Consumption——2.00%—
6/27/2024GDP Price Index——3.00%—
6/27/2024Core PCE Price Index QoQ——3.60%—
6/27/2024Initial Jobless Claims——238k—
6/27/2024Continuing Claims——1828k—
6/27/2024Durable Goods Orders0.00%—0.60%—
6/27/2024Durables Ex Transportation0.10%—0.40%—
6/27/2024Cap Goods Orders Nondef Ex Air——0.20%—
6/27/2024Cap Goods Ship Nondef Ex Air——0.40%—
6/27/2024Advance Goods Trade Balance-$95.5b—-$99.4b—
6/27/2024Retail Inventories MoM——0.70%—
6/27/2024Pending Home Sales MoM——-7.70%—
6/27/2024Pending Home Sales NSA YoY——-0.80%—
6/27/2024Kansas City Fed Manf. Activity——-2—

Jason Haley

Chief Investment Officer

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