Treasuries reversed the trend from the past two days and sold off as investor appetite for risk assets improved. Equities and oil were buoyed by an easing in trade tensions between China and the US; comments from PBOC governor Yi Gang assuaged the market’s fear by promising to use monetary policy “comprehensively” in the event of any market shock. Later this morning, existing home sale data will come out with the market expecting a 1.1% month over month increase. Additionally, Fed Chair Powell will appear on a panel with ECB President Draghi, and the market will be looking to glean any information regarding the potential trade war from the former.

Hafizan Hamzah
Director, Investment Management Group

Date TimeEventSurveyActualPriorRevised
06/18/2018NAHB Housing Market Index706870
06/19/2018Housing Starts1311k1350k1287k1286k
06/19/2018Housing Starts MoM1.90%5.00%-3.70%-3.10%
06/19/2018Building Permits1350k1301k1352k1364k
06/19/2018Building Permits MoM-1.00%-4.60%-1.80%-0.90%
06/20/2018MBA Mortgage Applications5.10%-1.50%
06/20/2018Current Account Balance-$129.0b-$124.1b-$128.2b-$116.1b
06/20/2018Existing Home Sales5.52m5.46m
06/20/2018Existing Home Sales MoM1.10%-2.50%
06/21/2018Initial Jobless Claims220k218k
06/21/2018Philadelphia Fed Business Outlook2934.4
06/21/2018Continuing Claims1710k1697k
06/21/2018FHFA House Price Index MoM0.50%0.10%
06/21/2018Bloomberg Economic Expectations54.5
06/21/2018Bloomberg Consumer Comfort55.8
06/21/2018Leading Index0.40%0.40%
06/22/2018Markit US Manufacturing PMI56.156.4
06/22/2018Markit US Services PMI56.556.8
06/22/2018Markit US Composite PMI56.6
06/25/2018Chicago Fed Nat Activity Index0.34
06/25/2018New Home Sales670k662k
06/25/2018New Home Sales MoM1.20%-1.50%
06/25/2018Dallas Fed Manf. Activity2426.8
06/26/2018S&P CoreLogic CS 20-City MoM SA0.53%
06/26/2018S&P CoreLogic CS 20-City YoY NSA6.79%
06/26/2018S&P CoreLogic CS 20-City NSA Index208.62
06/26/2018S&P CoreLogic CS US HPI NSA Index198.94
06/26/2018S&P CoreLogic CS US HPI YoY NSA6.53%
06/26/2018Richmond Fed Manufact. Index1516
06/26/2018Conf. Board Consumer Confidence127.2128
06/26/2018Conf. Board Present Situation161.7
06/26/2018Conf. Board Expectations105.6
06/27/2018MBA Mortgage Applications5.10%
06/27/2018Wholesale Inventories MoM0.10%
06/27/2018Durable Goods Orders-0.70%-1.60%
06/27/2018Advance Goods Trade Balance-$67.3b-$68.2b-$67.3b
06/27/2018Durables Ex Transportation0.50%0.90%
06/27/2018Retail Inventories MoM0.60%0.50%
06/27/2018Cap Goods Orders Nondef Ex Air1.00%
06/27/2018Cap Goods Ship Nondef Ex Air0.90%
06/27/2018Pending Home Sales MoM1.00%-1.30%
06/27/2018Pending Home Sales NSA YoY0.40%