Yields are little changed this morning, and equities are mixed in premarket trading.
S&P futures are up 0.11% while the Dow is down slightly at 0.02% and the Nasdaq is down 0.09%. The MBA mortgage applications index fell by 1.2% last week, led by a 7.1% decline in refinancing activity, which pushed the refi application index to a 3-month low. The 30-year contract rate rose 6 bps to 6.98%, its highest since February. Housing affordability remains a challenge for the market, as would-be buyers remain on the sidelines due to the combination of high interest rates and rising home prices.
Hafizan Hamzah
Senior Director, Investment Management Group
| Date | Event | Surv(M) | Actual | Prior |
| 5/28/2025 | MBA Mortgage Applications | — | -1.20% | -5.10% |
| 5/28/2025 | Richmond Fed Manufact. Index | -9 | — | -13 |
| 5/28/2025 | Richmond Fed Business Conditions | — | — | -30 |
| 5/28/2025 | Dallas Fed Services Activity | — | — | -19.4 |
| 5/28/2025 | FOMC Meeting Minutes | — | — | — |
| 5/29/2025 | GDP Annualized QoQ | -0.30% | — | -0.30% |
| 5/29/2025 | Personal Consumption | 1.70% | — | 1.80% |
| 5/29/2025 | GDP Price Index | 3.70% | — | 3.70% |
| 5/29/2025 | Core PCE Price Index QoQ | 3.50% | — | 3.50% |
| 5/29/2025 | Initial Jobless Claims | 230k | — | 227k |
| 5/29/2025 | Initial Claims 4-Wk Moving Avg | — | — | 231.50k |
| 5/29/2025 | Continuing Claims | 1890k | — | 1903k |
| 5/29/2025 | Pending Home Sales MoM | -1.00% | — | 6.10% |
| 5/29/2025 | Pending Home Sales NSA YoY | — | — | -0.10% |
| 5/30/2025 | Personal Income | 0.30% | — | 0.50% |
| 5/30/2025 | Personal Spending | 0.20% | — | 0.70% |
| 5/30/2025 | Real Personal Spending | 0.00% | — | 0.70% |
| 5/30/2025 | PCE Price Index MoM | 0.10% | — | 0.00% |
| 5/30/2025 | PCE Price Index YoY | 2.20% | — | 2.30% |
| 5/30/2025 | Core PCE Price Index MoM | 0.10% | — | 0.00% |
| 5/30/2025 | Core PCE Price Index YoY | 2.50% | — | 2.60% |
| 5/30/2025 | Advance Goods Trade Balance | -$143.0b | — | -$162.0b |
| 5/30/2025 | Wholesale Inventories MoM | 0.40% | — | 0.40% |
| 5/30/2025 | Retail Inventories MoM | -0.10% | — | -0.10% |
| 5/30/2025 | MNI Chicago PMI | 45 | — | 44.6 |
| 5/30/2025 | U. of Mich. Sentiment | 51.5 | — | 50.8 |
| 5/30/2025 | U. of Mich. Current Conditions | — | — | 57.6 |
| 5/30/2025 | U. of Mich. Expectations | — | — | 46.5 |
| 5/30/2025 | U. of Mich. 1 Yr Inflation | — | — | 7.30% |
| 5/30/2025 | U. of Mich. 5-10 Yr Inflation | 4.50% | — | 4.60% |
