The Treasury yield curve is twisting modestly steeper to begin the holiday shortened week.
The 2-year yield is 3 basis points lower so far this morning while the 10-year yield is 1 basis point higher. Later this morning, $69 billion of new 2-year notes will be auctioned. In housing news, the S&P/CoreLogic 20-city home price index (HPI) rose 0.33% m/m in March (seasonally adjusted), slightly more than expected, and on a year-over-year basis, the 20-city index was up 7.38%, also exceeding expectations. San Diego, New York, Cleveland, and Los Angeles posted the biggest gains in home prices in March, including a 11.1% annual gain for San Diego. On Friday, the April personal income, spending, and PCE report will be released.
Jason Haley
Chief Investment Officer
| Date | Event | Survey | Actual | Prior | Revised |
| 5/28/2024 | House Price Purchase Index QoQ | — | 1.10% | 1.50% | — |
| 5/28/2024 | FHFA House Price Index MoM | 0.50% | 0.10% | 1.20% | — |
| 5/28/2024 | S&P CoreLogic CS 20-City MoM SA | 0.30% | 0.33% | 0.61% | 0.55% |
| 5/28/2024 | S&P CoreLogic CS US HPI YoY NSA | 6.60% | 6.49% | 6.38% | 6.53% |
| 5/28/2024 | S&P CoreLogic CS 20-City YoY NSA | 7.30% | 7.38% | 7.29% | 7.33% |
| 5/28/2024 | Conf. Board Consumer Confidence | 96 | — | 97 | — |
| 5/28/2024 | Conf. Board Present Situation | — | — | 142.9 | — |
| 5/28/2024 | Conf. Board Expectations | — | — | 66.4 | — |
| 5/28/2024 | Dallas Fed Manf. Activity | -12.1 | — | -14.5 | — |
| 5/29/2024 | MBA Mortgage Applications | — | — | 1.90% | — |
| 5/29/2024 | Richmond Fed Manufact. Index | -6 | — | -7 | — |
| 5/29/2024 | Richmond Fed Business Conditions | — | — | -6 | — |
| 5/29/2024 | Dallas Fed Services Activity | — | — | -10.6 | — |
| 5/29/2024 | Federal Reserve Releases Beige Book | ||||
| 5/30/2024 | GDP Annualized QoQ | 1.30% | — | 1.60% | — |
| 5/30/2024 | Personal Consumption | 2.20% | — | 2.50% | — |
| 5/30/2024 | GDP Price Index | 3.10% | — | 3.10% | — |
| 5/30/2024 | Core PCE Price Index QoQ | 3.70% | — | 3.70% | — |
| 5/30/2024 | Initial Jobless Claims | 217k | — | 215k | — |
| 5/30/2024 | Continuing Claims | 1795k | — | 1794k | — |
| 5/30/2024 | Advance Goods Trade Balance | -$92.0b | — | -$91.8b | — |
| 5/30/2024 | Wholesale Inventories MoM | 0.10% | — | -0.40% | — |
| 5/30/2024 | Retail Inventories MoM | 0.30% | — | 0.30% | — |
| 5/30/2024 | Pending Home Sales MoM | 0.10% | — | 3.40% | — |
| 5/30/2024 | Pending Home Sales NSA YoY | — | — | -4.50% | — |
| 5/31/2024 | Personal Income | 0.30% | — | 0.50% | — |
| 5/31/2024 | Personal Spending | 0.30% | — | 0.80% | — |
| 5/31/2024 | Real Personal Spending | 0.00% | — | 0.50% | — |
| 5/31/2024 | PCE Deflator MoM | 0.30% | — | 0.30% | — |
| 5/31/2024 | PCE Deflator YoY | 2.70% | — | 2.70% | — |
| 5/31/2024 | PCE Core Deflator MoM | 0.20% | — | 0.30% | — |
| 5/31/2024 | PCE Core Deflator YoY | 2.80% | — | 2.80% | — |
| 5/31/2024 | MNI Chicago PMI | 41 | — | 37.9 | — |
| 6/3/2024 | S&P Global US Manufacturing PMI | — | — | 50.9 | — |
| 6/3/2024 | Construction Spending MoM | 0.20% | — | -0.20% | — |
| 6/3/2024 | ISM Manufacturing | 49.7 | — | 49.2 | — |
| 6/3/2024 | ISM Prices Paid | — | — | 60.9 | — |
| 6/3/2024 | ISM New Orders | — | — | 49.1 | — |
| 6/3/2024 | ISM Employment | — | — | 48.6 | — |
| 6/3/2024 | Wards Total Vehicle Sales | 15.85m | — | 15.74m | — |
| 6/4/2024 | JOLTS Job Openings | — | — | 8488k | — |
| 6/4/2024 | Factory Orders | 0.70% | — | 1.60% | 0.80% |
| 6/4/2024 | Factory Orders Ex Trans | — | — | 0.50% | 0.40% |
| 6/4/2024 | Durable Goods Orders | — | — | 0.70% | — |
| 6/4/2024 | Durables Ex Transportation | — | — | 0.40% | — |
| 6/4/2024 | Cap Goods Orders Nondef Ex Air | — | — | 0.30% | — |
| 6/4/2024 | Cap Goods Ship Nondef Ex Air | — | — | 0.40% | — |
