June 22, 2020 Headlines

Financial markets are relatively quiet to start the week. Equity futures are modestly higher ahead of the open, and Treasuries are little changed across the curve. The price of gold is closely approaching the 2012 record of $1,772.25 per ounce. This week’s economic calendar is headlined by the May personal income/spending report on Friday, as well as May durable goods orders on Thursday.  Market participants and economists will also continue to keep a close eye on the weekly jobless claims data (Thursday). Fed Chair Powell will not be speaking this week, but several other Fed leaders will be making appearances throughout the week.

Jason Haley
Chief Investment Officer

6/22/2020Chicago Fed Nat Activity Index-102.61-16.74-17.89
6/22/2020Existing Home Sales4.09m4.33m
6/22/2020Existing Home Sales MoM-5.60%-17.80%
6/23/2020Markit US Manufacturing PMI51.539.8
6/23/2020Markit US Services PMI4837.5
6/23/2020Markit US Composite PMI37
6/23/2020New Home Sales639k623k
6/23/2020New Home Sales MoM2.60%0.60%
6/23/2020Richmond Fed Manufact. Index-11-27
6/24/2020MBA Mortgage Applications8.00%
6/24/2020FHFA House Price Index MoM0.30%0.10%
6/25/2020Advance Goods Trade Balance-$68.3b-$69.7b
6/25/2020Wholesale Inventories MoM0.40%0.30%
6/25/2020Retail Inventories MoM-3.60%
6/25/2020Durable Goods Orders11.50%-17.70%
6/25/2020Durables Ex Transportation2.10%-7.70%
6/25/2020Cap Goods Orders Nondef Ex Air1.50%-6.10%
6/25/2020Cap Goods Ship Nondef Ex Air-0.50%-5.70%
6/25/2020GDP Annualized QoQ-5.00%-5.00%
6/25/2020Personal Consumption-6.80%-6.80%
6/25/2020GDP Price Index1.40%1.40%
6/25/2020Core PCE QoQ1.60%1.60%
6/25/2020Initial Jobless Claims1300k1508k
6/25/2020Continuing Claims19856k20544k
6/25/2020Bloomberg Consumer Comfort40.2
6/25/2020Kansas City Fed Manf. Activity-10-19
6/26/2020Personal Income-6.00%10.50%
6/26/2020Personal Spending8.90%-13.60%
6/26/2020Real Personal Spending9.10%-13.20%
6/26/2020PCE Deflator MoM0.00%-0.50%
6/26/2020PCE Deflator YoY0.50%0.50%
6/26/2020PCE Core Deflator MoM0.00%-0.40%
6/26/2020PCE Core Deflator YoY0.90%1.00%
6/26/2020U. of Mich. Sentiment7978.9
6/26/2020U. of Mich. Current Conditions87.8
6/26/2020U. of Mich. Expectations73.1
6/26/2020U. of Mich. 1 Yr Inflation3.00%
6/26/2020U. of Mich. 5-10 Yr Inflation2.60%


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