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

06/27/22Durable Goods Orders0.10%0.70%0.50%0.40%
06/27/22Durables Ex Transportation0.30%0.70%0.40%0.20%
06/27/22Cap Goods Orders Nondef Ex Air0.20%0.50%0.40%0.30%
06/27/22Cap Goods Ship Nondef Ex Air0.20%0.80%0.80%
06/27/22Pending Home Sales MoM-4.00%0.70%-3.90%-4.00%
06/27/22Pending Home Sales NSA YoY-12.00%-11.50%
06/27/22Dallas Fed Manf. Activity-6.5-17.7-7.3
06/28/22Advance Goods Trade Balance-$104.8b-$104.3b-$105.9b-$106.7b
06/28/22Wholesale Inventories MoM2.10%2.00%2.20%2.30%
06/28/22Retail Inventories MoM1.80%1.10%0.70%
06/28/22FHFA House Price Index MoM1.40%1.60%1.50%1.60%
06/28/22S&P CoreLogic CS 20-City MoM SA1.90%1.77%2.42%2.41%
06/28/22S&P CoreLogic CS 20-City YoY NSA21.05%21.23%21.17%21.15%
06/28/22S&P CoreLogic CS US HPI YoY NSA20.39%20.55%20.64%
06/28/22Richmond Fed Manufact. Index-7-11-9
06/28/22Conf. Board Consumer Confidence10098.7106.4103.2
06/28/22Conf. Board Present Situation147.1149.6147.4
06/28/22Conf. Board Expectations66.477.573.7
06/29/22MBA Mortgage Applications0.70%4.20%
06/29/22GDP Annualized QoQ-1.50%-1.60%-1.50%
06/29/22Personal Consumption3.10%1.80%3.10%
06/29/22GDP Price Index8.10%8.20%8.10%
06/29/22Core PCE QoQ5.10%5.20%5.10%
06/30/22Personal Income0.50%0.40%
06/30/22Personal Spending0.40%0.90%
06/30/22Initial Jobless Claims230k229k
06/30/22Real Personal Spending-0.30%0.70%
06/30/22Continuing Claims1319k1315k
06/30/22PCE Deflator MoM0.70%0.20%
06/30/22PCE Deflator YoY6.40%6.30%
06/30/22PCE Core Deflator MoM0.40%0.30%
06/30/22PCE Core Deflator YoY4.80%4.90%
06/30/22MNI Chicago PMI5860.3
07/01/22S&P Global US Manufacturing PMI52.452.4
07/01/22Construction Spending MoM0.40%0.20%
07/01/22ISM Manufacturing54.556.1
07/01/22ISM Prices Paid79.982.2
07/01/22ISM New Orders5255.1
07/01/22ISM Employment5049.6
07/01/22Wards Total Vehicle Sales13.30m12.68m


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