June 24, 2019 Headlines

Treasury yields are slightly lower and the curve flatter to start the week. Market participants continue to assess geopolitical risks with Iran and trade risks with China, but for now, risk markets appear to be shaking off some of these concerns. S&P 500 futures are up 6 points, and credit spreads are tighter on the day. Oil prices are indeed higher on the day, but not sharply enough to convey serious concerns regarding U.S. tensions with Iran (broad markets typically look to the reaction of oil markets when assessing situations in the Middle East).  

The primary areas of focus this week from a market perspective will be the G-20 summit and comments from Fed leaders. The G-20 will begin Friday in Japan, and investors will, of course, be looking for any signs of thawing with regards to current U.S./China tensions. Several Fed leaders will be speaking tomorrow, headlined by Jerome Powell at 1pm EDT.

Jason Haley
Managing Director, Investment Management Group

DateEventSurveyActualPriorRevised
6/24/2019Chicago Fed Nat Activity Index-0.2-0.05-0.45-0.48
6/24/2019Dallas Fed Manf. Activity-2—-5.3—
6/25/2019FHFA House Price Index MoM0.20%—0.10%—
6/25/2019S&P CoreLogic CS 20-City MoM SA0.10%—0.09%—
6/25/2019S&P CoreLogic CS 20-City YoY NSA2.45%—2.68%—
6/25/2019S&P CoreLogic CS 20-City NSA Index215.6—214.09—
6/25/2019S&P CoreLogic CS US HPI YoY NSA3.50%—3.72%—
6/25/2019S&P CoreLogic CS US HPI NSA Index——206.23—
6/25/2019Richmond Fed Manufact. Index2—5—
6/25/2019Revisions: Retail Sales
6/25/2019New Home Sales685k—673k—
6/25/2019New Home Sales MoM1.80%—-6.90%—
6/25/2019Conf. Board Consumer Confidence131—134.1—
6/25/2019Conf. Board Present Situation——175.2—
6/25/2019Conf. Board Expectations——106.6—
6/26/2019MBA Mortgage Applications——-3.40%—
6/26/2019Durable Goods Orders-0.20%—-2.10%—
6/26/2019Durables Ex Transportation0.10%—0.00%—
6/26/2019Cap Goods Orders Nondef Ex Air0.10%—-1.00%—
6/26/2019Cap Goods Ship Nondef Ex Air0.10%—0.00%—
6/26/2019Advance Goods Trade Balance-$71.5b—-$72.1b—
6/26/2019Retail Inventories MoM0.30%—0.50%0.50%
6/26/2019Wholesale Inventories MoM0.50%—0.80%—
6/27/2019GDP Annualized QoQ3.20%—3.10%—
6/27/2019Personal Consumption1.30%—1.30%—
6/27/2019Initial Jobless Claims218k—216k—
6/27/2019GDP Price Index0.80%—0.80%—
6/27/2019Continuing Claims1665k—1662k—
6/27/2019Core PCE QoQ1.00%—1.00%—
6/27/2019Bloomberg Consumer Comfort——61.8—
6/27/2019Pending Home Sales MoM1.00%—-1.50%—
6/27/2019Pending Home Sales NSA YoY——0.40%—
6/27/2019Kansas City Fed Manf. Activity0—4—
6/28/2019Personal Income0.30%—0.50%—
6/28/2019Personal Spending0.50%—0.30%—
6/28/2019Real Personal Spending0.40%—0.00%—
6/28/2019PCE Deflator MoM0.20%—0.30%—
6/28/2019PCE Deflator YoY1.50%—1.50%—
6/28/2019PCE Core Deflator MoM0.20%—0.20%—
6/28/2019PCE Core Deflator YoY1.50%—1.60%—
6/28/2019MNI Chicago PMI53.5—54.2—
6/28/2019U. of Mich. Sentiment98—97.9—
6/28/2019U. of Mich. Current Conditions——112.5—
6/28/2019U. of Mich. Expectations——88.6—
6/28/2019U. of Mich. 1 Yr Inflation——2.60%—
6/28/2019U. of Mich. 5-10 Yr Inflation——2.20%—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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