June 27, 2022 Headlines

Treasury yields are 4 to 6 bps higher to start the day with the 10-year hovering around 3.19%. Durable goods orders came in higher than expected in May, +0.7% m/m vs +0.1% projected. May’s increase was broad based with orders for metals, machinery, communications equipment, and vehicles all up during the period. Today’s reading comes after Friday’s University of Michigan Consumer Sentiment survey painted a different picture. The survey showed buying conditions for household durable goods dropping to a record low as concerns over the forward path of the economy weigh on consumer spending.

Hafizan Hamzah
Senior Director, Investment Management Group

Date	Event	Surv(M)	Actual	Prior	Revised
06/27/22	Durable Goods Orders	0.10%	0.70%	0.50%	0.40%
06/27/22	Durables Ex Transportation	0.30%	0.70%	0.40%	0.20%
06/27/22	Cap Goods Orders Nondef Ex Air	0.20%	0.50%	0.40%	0.30%
06/27/22	Cap Goods Ship Nondef Ex Air	0.20%	0.80%	0.80%	—
06/27/22	Pending Home Sales MoM	-4.00%	—	-3.90%	—
06/27/22	Pending Home Sales NSA YoY	—	—	-11.50%	—
06/27/22	Dallas Fed Manf. Activity	-5.8	—	-7.3	—
06/28/22	Advance Goods Trade Balance	-$105.4b	—	-$105.9b	-$106.7b
06/28/22	Wholesale Inventories MoM	2.20%	—	2.20%	—
06/28/22	Retail Inventories MoM	1.60%	—	0.70%	—
06/28/22	FHFA House Price Index MoM	1.60%	—	1.50%	—
06/28/22	S&P CoreLogic CS 20-City MoM SA	1.85%	—	2.42%	—
06/28/22	S&P CoreLogic CS 20-City YoY NSA	21.20%	—	21.17%	—
06/28/22	S&P CoreLogic CS US HPI YoY NSA	—	—	20.55%	—
06/28/22	Conf. Board Consumer Confidence	100	—	106.4	—
06/28/22	Conf. Board Present Situation	—	—	149.6	—
06/28/22	Conf. Board Expectations	—	—	77.5	—
06/28/22	Richmond Fed Manufact. Index	-5	—	-9	—
06/29/22	MBA Mortgage Applications	—	—	4.20%	—
06/29/22	GDP Annualized QoQ	-1.50%	—	-1.50%	—
06/29/22	Personal Consumption	3.10%	—	3.10%	—
06/29/22	GDP Price Index	8.10%	—	8.10%	—
06/29/22	Core PCE QoQ	5.10%	—	5.10%	—
06/30/22	Personal Income	0.50%	—	0.40%	—
06/30/22	Personal Spending	0.40%	—	0.90%	—
06/30/22	Initial Jobless Claims	230k	—	229k	—
06/30/22	Real Personal Spending	-0.20%	—	0.70%	—
06/30/22	Continuing Claims	1310k	—	1315k	—
06/30/22	PCE Deflator MoM	0.70%	—	0.20%	—
06/30/22	PCE Deflator YoY	6.40%	—	6.30%	—
06/30/22	PCE Core Deflator MoM	0.40%	—	0.30%	—
06/30/22	PCE Core Deflator YoY	4.80%	—	4.90%	—
06/30/22	MNI Chicago PMI	58	—	60.3	—
07/01/22	S&P Global US Manufacturing PMI	52.4	—	52.4	—
07/01/22	Construction Spending MoM	0.40%	—	0.20%	—
07/01/22	ISM Manufacturing	54.7	—	56.1	—
07/01/22	ISM Prices Paid	80	—	82.2	—
07/01/22	ISM New Orders	—	—	55.1	—
07/01/22	ISM Employment	—	—	49.6	—
07/01/22	Wards Total Vehicle Sales	13.40m	—	12.68m	—

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