June 21, 2021 Headlines

Treasury yields are unchanged to slightly higher this morning following a volatile overnight session. The 10-year note yield fell as low as 1.35% during early trading in Asia before retracing back to the current 1.44% level after London opened. Financial markets continue to digest last week’s FOMC meeting and the ultimate impact on asset valuations and inflation expectations. This week’s economic calendar is headlined by multiple housing reports, beginning with existing home sales data tomorrow, and May personal income, spending, and PCE will be released Friday. Perhaps more importantly given recent events, several Fed leaders will be speaking this week, including Fed Chair Powell’s testimony before Congress tomorrow.

Jason Haley
Chief Investment Officer

6/21/2021Chicago Fed Nat Activity Index0.70.290.24-0.09
6/22/2021Existing Home Sales5.71m5.85m
6/22/2021Existing Home Sales MoM-2.40%-2.70%
6/22/2021Richmond Fed Manufact. Index1818
6/23/2021MBA Mortgage Applications4.20%
6/23/2021Current Account Balance-$206.5b-$188.5b
6/23/2021Markit US Manufacturing PMI61.562.1
6/23/2021Markit US Services PMI7070.4
6/23/2021Markit US Composite PMI68.7
6/23/2021New Home Sales867k863k
6/23/2021New Home Sales MoM0.50%-5.90%
6/24/2021Advance Goods Trade Balance-$87.5b-$85.2b
6/24/2021Wholesale Inventories MoM0.80%0.80%
6/24/2021Retail Inventories MoM-0.50%-1.60%
6/24/2021Durable Goods Orders2.80%-1.30%
6/24/2021Durables Ex Transportation0.70%1.00%
6/24/2021Cap Goods Orders Nondef Ex Air0.60%2.20%
6/24/2021Cap Goods Ship Nondef Ex Air0.80%0.90%
6/24/2021GDP Annualized QoQ6.40%6.40%
6/24/2021Personal Consumption11.30%11.30%
6/24/2021GDP Price Index4.30%4.30%
6/24/2021Core PCE QoQ2.50%2.50%
6/24/2021Initial Jobless Claims380k412k
6/24/2021Continuing Claims3476k3518k
6/24/2021Langer Consumer Comfort56.2
6/24/2021Kansas City Fed Manf. Activity2526
6/25/2021Personal Income-2.60%-13.10%
6/25/2021Personal Spending0.40%0.50%
6/25/2021Real Personal Spending-0.10%-0.10%
6/25/2021PCE Deflator MoM0.50%0.60%
6/25/2021PCE Deflator YoY3.90%3.60%
6/25/2021PCE Core Deflator MoM0.60%0.70%
6/25/2021PCE Core Deflator YoY3.40%3.10%
6/25/2021U. of Mich. Sentiment86.586.4
6/25/2021U. of Mich. Current Conditions90.6
6/25/2021U. of Mich. Expectations83.8
6/25/2021U. of Mich. 1 Yr Inflation4.00%
6/25/2021U. of Mich. 5-10 Yr Inflation2.80%

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