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

Date Event Surv(M) Actual Prior Revised
06/21/21 Chicago Fed Nat Activity Index 0.7 0.29 0.24 -0.09
06/22/21 Existing Home Sales 5.73m — 5.85m —
06/22/21 Existing Home Sales MoM -2.10% — -2.70% —
06/22/21 Richmond Fed Manufact. Index 18 — 18 —
06/23/21 MBA Mortgage Applications — — 4.20% —
06/23/21 Current Account Balance -$206.2b — -$188.5b —
06/23/21 Markit US Manufacturing PMI 61.5 — 62.1 —
06/23/21 Markit US Services PMI 70 — 70.4 —
06/23/21 Markit US Composite PMI — — 68.7 —
06/23/21 New Home Sales 867k — 863k —
06/23/21 New Home Sales MoM 0.40% — -5.90% —
06/24/21 Advance Goods Trade Balance -$87.5b — -$85.2b —
06/24/21 Wholesale Inventories MoM 0.80% — 0.80% —
06/24/21 Retail Inventories MoM -0.50% — -1.60% —
06/24/21 Durable Goods Orders 2.80% — -1.30% —
06/24/21 Durables Ex Transportation 0.70% — 1.00% —
06/24/21 Cap Goods Orders Nondef Ex Air 0.60% — 2.20% —
06/24/21 Cap Goods Ship Nondef Ex Air 0.80% — 0.90% —
06/24/21 GDP Annualized QoQ 6.40% — 6.40% —
06/24/21 Personal Consumption 11.40% — 11.30% —
06/24/21 GDP Price Index 4.30% — 4.30% —
06/24/21 Core PCE QoQ 2.50% — 2.50% —
06/24/21 Initial Jobless Claims 380k — 412k —
06/24/21 Continuing Claims 3460k — 3518k —
06/24/21 Langer Consumer Comfort — — 56.2 —
06/24/21 Kansas City Fed Manf. Activity 24 — 26 —
06/25/21 Personal Income -2.50% — -13.10% —
06/25/21 Personal Spending 0.40% — 0.50% —
06/25/21 Real Personal Spending -0.10% — -0.10% —
06/25/21 PCE Deflator MoM 0.50% — 0.60% —
06/25/21 PCE Deflator YoY 3.90% — 3.60% —
06/25/21 PCE Core Deflator MoM 0.60% — 0.70% —
06/25/21 PCE Core Deflator YoY 3.40% — 3.10% —
06/25/21 U. of Mich. Sentiment 86.5 — 86.4 —
06/25/21 U. of Mich. Current Conditions 91.4 — 90.6 —
06/25/21 U. of Mich. Expectations 83.8 — 83.8 —
06/25/21 U. of Mich. 1 Yr Inflation 4.10% — 4.00% —
06/25/21 U. of Mich. 5-10 Yr Inflation — — 2.80% —

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