June 22, 2021 Headlines

Markets are prepping for testimony from Fed Chair Powell before Congress this afternoon. Equity futures are unchanged to slightly higher, and the yield curve is modestly steeper on the day. Market participants will be listening closely for any added guidance with regard to the Fed’s asset purchase program, and Powell may also attempt to talk down the changes in the “dot plot,” similar to what he did during last week’s press conference. Existing homes sales data for may will be released later this morning, and there will be a 2-year Treasury note auction this afternoon.

Jason Haley
Chief Investment Officer

DateEventSurv(M)ActualPriorRevised
06/21/21Chicago Fed Nat Activity Index0.70.290.24-0.09
06/22/21Existing Home Sales5.73m5.85m
06/22/21Existing Home Sales MoM-2.10%-2.70%
06/22/21Richmond Fed Manufact. Index1818
06/23/21MBA Mortgage Applications4.20%
06/23/21Current Account Balance-$206.2b-$188.5b
06/23/21Markit US Manufacturing PMI61.562.1
06/23/21Markit US Services PMI7070.4
06/23/21Markit US Composite PMI68.7
06/23/21New Home Sales867k863k
06/23/21New Home Sales MoM0.40%-5.90%
06/24/21Advance Goods Trade Balance-$87.5b-$85.2b
06/24/21Wholesale Inventories MoM0.80%0.80%
06/24/21Retail Inventories MoM-0.50%-1.60%
06/24/21Durable Goods Orders2.80%-1.30%
06/24/21Durables Ex Transportation0.70%1.00%
06/24/21Cap Goods Orders Nondef Ex Air0.60%2.20%
06/24/21Cap Goods Ship Nondef Ex Air0.80%0.90%
06/24/21GDP Annualized QoQ6.40%6.40%
06/24/21Personal Consumption11.40%11.30%
06/24/21GDP Price Index4.30%4.30%
06/24/21Core PCE QoQ2.50%2.50%
06/24/21Initial Jobless Claims380k412k
06/24/21Continuing Claims3460k3518k
06/24/21Langer Consumer Comfort56.2
06/24/21Kansas City Fed Manf. Activity2426
06/25/21Personal Income-2.50%-13.10%
06/25/21Personal Spending0.40%0.50%
06/25/21Real Personal Spending-0.10%-0.10%
06/25/21PCE Deflator MoM0.50%0.60%
06/25/21PCE Deflator YoY3.90%3.60%
06/25/21PCE Core Deflator MoM0.60%0.70%
06/25/21PCE Core Deflator YoY3.40%3.10%
06/25/21U. of Mich. Sentiment86.586.4
06/25/21U. of Mich. Current Conditions91.490.6
06/25/21U. of Mich. Expectations83.883.8
06/25/21U. of Mich. 1 Yr Inflation4.10%4.00%
06/25/21U. of Mich. 5-10 Yr Inflation2.80%

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