June 29, 2022 Headlines

First quarter GDP was revised lower to -1.6% from -1.5%. The Bloomberg median forecast called Q1 GDP to remain unchanged at -1.5%. Personal consumption was cut to 1.8% from 3.1%, which would be the lowest level in seven quarters. Spending on goods was revised down to -0.3% from 0.0% while spending on services was revised down to 3.0% from 4.8%.The news initially sent Treasury yields lower but they have since retraced the move and are now sitting unchanged from the open.

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%	0.70%	-3.90%	-4.00%
06/27/22	Pending Home Sales NSA YoY	—	-12.00%	-11.50%	—
06/27/22	Dallas Fed Manf. Activity	-6.5	-17.7	-7.3	—
06/28/22	Advance Goods Trade Balance	-$104.8b	-$104.3b	-$105.9b	-$106.7b
06/28/22	Wholesale Inventories MoM	2.10%	2.00%	2.20%	2.30%
06/28/22	Retail Inventories MoM	1.80%	1.10%	0.70%	—
06/28/22	FHFA House Price Index MoM	1.40%	1.60%	1.50%	1.60%
06/28/22	S&P CoreLogic CS 20-City MoM SA	1.90%	1.77%	2.42%	2.41%
06/28/22	S&P CoreLogic CS 20-City YoY NSA	21.05%	21.23%	21.17%	21.15%
06/28/22	S&P CoreLogic CS US HPI YoY NSA	—	20.39%	20.55%	20.64%
06/28/22	Richmond Fed Manufact. Index	-7	-11	-9	—
06/28/22	Conf. Board Consumer Confidence	100	98.7	106.4	103.2
06/28/22	Conf. Board Present Situation	—	147.1	149.6	147.4
06/28/22	Conf. Board Expectations	—	66.4	77.5	73.7
06/29/22	MBA Mortgage Applications	—	0.70%	4.20%	—
06/29/22	GDP Annualized QoQ	-1.50%	-1.60%	-1.50%	—
06/29/22	Personal Consumption	3.10%	1.80%	3.10%	—
06/29/22	GDP Price Index	8.10%	8.20%	8.10%	—
06/29/22	Core PCE QoQ	5.10%	5.20%	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	-0.30%	—	0.70%	—
06/30/22	Continuing Claims	1319k	—	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	54.5	—	56.1	—
07/01/22	ISM Prices Paid	79.9	—	82.2	—
07/01/22	ISM New Orders	52	—	55.1	—
07/01/22	ISM Employment	50	—	49.6	—
07/01/22	Wards Total Vehicle Sales	13.30m	—	12.68m	—

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