June 8, 2021 Headlines

Both Treasury and equity prices are higher this morning as inflation once again monopolizes investor attention. Stocks rebounded after an initial shock stemming from several major websites going offline in the early hours, they have since come back allaying cyberattack fears. Long-end Treasury yields are 4 bps lower while the belly is down 2 to 3 bps. We’ll get another look at inflation Thursday with the May CPI release. The median forecast is for an increase of 0.4% MoM and 4.7% YoY.

Hafizan Hamzah
Director, Investment Management Group

Date Event Surv(M) Actual Prior Revised
06/07/21 Consumer Credit $20.000b $18.612b $25.841b $18.584b
06/08/21 NFIB Small Business Optimism 101 99.6 99.8 —
06/08/21 Revisions: Trade Balance
06/08/21 Trade Balance -$68.7b -$68.9b -$74.4b -$75.0b
06/08/21 JOLTS Job Openings 8200k — 8123k —
06/09/21 MBA Mortgage Applications — — -4.00% —
06/09/21 Wholesale Inventories MoM 0.80% — 0.80% —
06/09/21 Wholesale Trade Sales MoM — — 4.60% —
06/10/21 Real Avg Weekly Earnings YoY — — -1.40% -1.70%
06/10/21 CPI MoM 0.40% — 0.80% —
06/10/21 CPI Ex Food and Energy MoM 0.50% — 0.90% —
06/10/21 CPI YoY 4.70% — 4.20% —
06/10/21 CPI Ex Food and Energy YoY 3.50% — 3.00% —
06/10/21 CPI Index NSA 268.681 — 267.054 —
06/10/21 Initial Jobless Claims 370k — 385k —
06/10/21 CPI Core Index SA 275.058 — 273.7 —
06/10/21 Continuing Claims 3650k — 3771k —
06/10/21 Real Avg Hourly Earning YoY — — -3.70% —
06/10/21 Langer Consumer Comfort — — 55.6 —
06/10/21 Household Change in Net Worth — — $6925b —
06/10/21 Monthly Budget Statement -$250.0b — -$225.6b —
06/11/21 Bloomberg June United States Economic Survey
06/11/21 U. of Mich. Sentiment 84.2 — 82.9 —
06/11/21 U. of Mich. Current Conditions 91.3 — 89.4 —
06/11/21 U. of Mich. Expectations 78.7 — 78.8 —
06/11/21 U. of Mich. 1 Yr Inflation 4.70% — 4.60% —
06/11/21 U. of Mich. 5-10 Yr Inflation — — 3.00% —

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