June 27, 2023 Headlines

Treasuries are little changed to start the day as rates continue to trade in a tighter range following the June 14 FOMC meeting. Hawkish comments from ECB officials overnight lead to some weakness in rates, but this was mostly offset by expectations for China to provide more stimulus. Durable goods orders improved in May, with headline orders up 1.7% versus expectations of a 0.9% decline. Nondefense capital goods orders excluding aircraft, which is used as a proxy for capital expenditures, rose 0.7% last month, up slightly from a downwardly revised 0.6% rate the prior month. Later this morning, Fed Chair Powell will participate in a monetary policy panel along with the heads of the Bank of England, the ECB, and the Bank of Japan.

Jason Haley
Chief Investment Officer

Date Time Event Survey Actual Prior Revised
06/27/2023 08:30 Durable Goods Orders -0.90% 1.70% 1.10% 1.20%
06/27/2023 08:30 Durables Ex Transportation 0.00% 0.60% -0.30% -0.60%
06/27/2023 08:30 Cap Goods Orders Nondef Ex Air 0.10% 0.70% 1.30% 0.60%
06/27/2023 08:30 Cap Goods Ship Nondef Ex Air 0.20% 0.20% 0.50% 0.40%
06/27/2023 09:00 FHFA House Price Index MoM 0.50% 0.60%
06/27/2023 09:00 S&P CoreLogic CS 20-City MoM SA 0.40% 0.45%
06/27/2023 09:00 S&P CoreLogic CS 20-City YoY NSA -2.40% -1.15%
06/27/2023 09:00 S&P CoreLogic CS US HPI YoY NSA 0.66%
06/27/2023 10:00 New Home Sales 675k 683k
06/27/2023 10:00 New Home Sales MoM -1.20% 4.10%
06/27/2023 10:00 Conf. Board Consumer Confidence 104 102.3
06/27/2023 10:00 Conf. Board Present Situation 148.6
06/27/2023 10:00 Conf. Board Expectations 71.5
06/27/2023 10:00 Richmond Fed Manufact. Index -12 -15
06/27/2023 10:00 Richmond Fed Business Conditions -17
06/27/2023 10:30 Dallas Fed Services Activity -17.3
06/28/2023 07:00 MBA Mortgage Applications 0.50%
06/28/2023 08:30 Wholesale Inventories MoM -0.10% -0.10%
06/28/2023 08:30 Advance Goods Trade Balance -$93.8b -$96.8b
06/28/2023 08:30 Retail Inventories MoM 0.20% 0.20%
06/29/2023 08:30 GDP Annualized QoQ 1.40% 1.30%
06/29/2023 08:30 Personal Consumption 3.80% 3.80%
06/29/2023 08:30 GDP Price Index 4.20% 4.20%
06/29/2023 08:30 Core PCE QoQ 5.00% 5.00%
06/29/2023 08:30 Initial Jobless Claims 265k 264k
06/29/2023 08:30 Continuing Claims 1765k 1759k
06/29/2023 10:00 Pending Home Sales MoM -0.50% 0.00%
06/29/2023 10:00 Pending Home Sales NSA YoY -21.00% -22.60%
06/30/2023 08:30 Personal Income 0.30% 0.40%
06/30/2023 08:30 Personal Spending 0.20% 0.80%
06/30/2023 08:30 Real Personal Spending 0.10% 0.50%
06/30/2023 08:30 PCE Deflator MoM 0.10% 0.40%
06/30/2023 08:30 PCE Deflator YoY 3.80% 4.40%
06/30/2023 08:30 PCE Core Deflator MoM 0.30% 0.40%
06/30/2023 08:30 PCE Core Deflator YoY 4.70% 4.70%
06/30/2023 09:45 MNI Chicago PMI 43.8 40.4
06/30/2023 10:00 U. of Mich. Sentiment 63.9 63.9
06/30/2023 10:00 U. of Mich. Current Conditions 68 68
06/30/2023 10:00 U. of Mich. Expectations 61.3 61.3
06/30/2023 10:00 U. of Mich. 1 Yr Inflation 3.30% 3.30%
06/30/2023 10:00 U. of Mich. 5-10 Yr Inflation 3.00% 3.00%
07/03/2023 09:45 S&P Global US Manufacturing PMI 46.3
07/03/2023 10:00 Construction Spending MoM 0.50% 1.20%
07/03/2023 10:00 ISM Manufacturing 47.2 46.9
07/03/2023 10:00 ISM Prices Paid 44.2
07/03/2023 10:00 ISM Employment 51.4
07/03/2023 10:00 ISM New Orders 42.6
07/03/2023 Wards Total Vehicle Sales 15.20m 15.05m

 

 

 

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