wall street in advance

May/June 2019  Economic Statistics
and Other Economic Influences

                Weekly Chain Store Sales*
                 Average Hourly Earnings*
                 API Weekly Gas/Oil Stockpiles Report*  **
Mortgage Applications  Data
                 EIA Weekly Report on Gas & Oil Stockpiles* (10a.m.)
                 Weekly Unemployment Report*
                  Weekly Mutual Fund Flows*
                   Natural Gas Storage Levels* (a.m.)

 *Except Holidays    ** As of 1/09         All Dates Subject to Change:
Sunday,     May 26 EU Parliamentary Elections (Final day)
ECB's Lautenschlaeger
on role of ECB in Europe @Deutsche Bundesbank (Frankfurt)
BoJ Gov Kuroda speaks
    OVERNIGHT into US Mon. a.m. et:
        ECB's Coeure
at BIS hi-level meeting on inclusion (Basel Suisse 10:40 cet)
Monday,  May 27 US MARKETS CLOSED for Memorial Day
UK Markets Closed for Spring Bank Holiday

    OVERNIGHT into US Tues. a.m. et:
        German Apr Retail Sales
        China Apr Industrial Profits
        Japan Apr Corporate Service Prices, BoJ Core CPI
        UK May Nationwide House Price Index
, BBA Apr Loans for House Purchases
        Hong Kong April Trade Balance
        Swiss Q1 GDP, April Imports/Exports/Swiss Watch Exports, Unemployment
        German GfK June Consumer Confidence, Import Price Index
        Italian Apr Ttrade Balance
        Eurozone May Economic, Business, Industrial, Services & Consumer Sentiment
        Monetary Development in the Euro area Dataset + Nat'l Balance Sheet of euro area financial institutions, ex-Eurosystem, Publicaiton of the Consolidated Financial Statement of Eurosystem  (15:00cet, 05/28 local time)
Tuesday, May 28 Case-Shiller March/Q1 20-city Home Price Index (9am et)
FHFA March/Q1 Home Price Index
Conference Board's May Consumer Confidence (10am et)
Dallas Fed May Manufacturing Survey
US Treasury Auctions  $36B 6-month Bills & $40B 2-year Notes (11:30am et)
US Treasury Auctions $36B 3-month Bills & $41B 5-year Notes (1pm et)
    OVERNIGHT into US Wed. a.m. et:
        S. Korea Jun Manufacturing BSI Index
        RBNZ (New Zealand) Publishes Financial Stability Report, ANZ Business Confidence & Activity Outlook, Gov Orr speaks
        BoJ Chief Kuroda speaks (Tokyo)
        Aussie HIA New Home Sales. May Business Confidence
        French Q1 GDP, CPI, HICP, PPI, Consumer Spending 
        German May Unemployment Rate/Claims/Change, Apr Import Price Index
        Swiss May ZEW Expectations
        ECB publication of Financial Stability Review
(10:00 cet)
        UK BRC May Shop Price Index
Wed.,       May 29 MBA Mortgage/Refinance Applications (7am et)
Redbook weekly store sales snapshot (8:55am et)
Richmond Fed Manufacturing Index (10am et)
BoC (Canada) MPC Rate Decision & Press Conference w/Poloz & Wilkins
US Treasury Auctions $18B reopened 2-year FRN (11:30am et)
Brazil Apr Bank Lending, May IGP Inflation Index, FX Flows
US Treasury Auctions $32B 7-year Notes (1pm et)
    OVERNIGHT into US Thurs. a.m. et:
         China April Swift Global Payments

         Aussie Q1 Private Capital Expenditure, Apr Building Approvals
         New Zealand Annual Budget Release + Jan Budget Balance, Economic Forecast
         Spanish May CPI, HICP, Apr Retail Sales
         So. Africa Apr PPI
         Canada CFIB May Business Barometer & Q1 Current Account Balance
         Brazil Q1 GDP
Thurs.      May 30 US Q1 GDP + PCE  (8:30am et)
US April  Int'l Trade Deficit
US Weekly Jobless Claims
ECB Holiday, Ascension Day
Swiss Holiday Ascension Day
US Q1 Corporate Profits
US April (adv) Retail Inventories
US April (adv) Wholesale Inventories

Canada Q1 Current Account
NAR April Pending Home Sales Index (10am et)
EIA weekly Natural Gas Report (w/e 5/24; 10:30am et)
EIA weekly Petroleum/Gasoline/Distillates Report (11am, delayed by Mon holiday)
Fed V.Chair Clarida on "Sustaining Maximum Employment & Price Stability @Economic Club of NY (noon et)
BoC Sr Dpty Wilkins speaks
US Treasury to Auction 4-, & 8-week Bills (11:30am et)
Fed weekly Balance Sheet, Aggregate Reserves of Depository Institutions, & US weekly Money Supply (4:30pm et)
    OVERNIGHT into US Fri. a.m. et:
        UK GfK May Consumer Confidence
& Lloyds Buisness Barometer
        Japan Apr Jobless Rate/Change/Job-to-Applicant Ratio, Industrial Production, Retail Trade, Loans & Discounts, May CPI
        China May Mnftg, non-Mnftg & Composite PMI
         S. Korea Apr Industrial Production, Retail Sales, Service Sector Output
         Aussie Apr Housing & Private Sector Credit
         Singapore Apr Banking Lending
         RBI (India) Monetary & Credit Information Review
         Japan Mar Vehicle Production, Apr Housing Starts/Construction Orders, May Consumer Confidence
         So Korea May Interest Rate Decision
         Swiss April Retail Sales
         Italy Q1 GDP, May CPI, HICP, April   PPI
         BoE Net Apr Consumer Credit, Lending on Dwellings, Mortgage Approvals, UK May GfK Consumer Confidence
        India Apr Federal Fiscal Deficit, FX Reserves, Infrastructure Output, 18Q4 GDP
        German May CPI, HICP, Apr Retail Sales
        Spanish May Current Account
Friday,     May 31 US April Personal Income/Outlays/PCE (8:30am et)
Canada Mar GDP, Apr Industrial & Raw Materials Price Index, Mar Budget Balance
Chicago May PMI (9:45am et)
Brazil Apr Budget BAlance, Debt-to-GDP Ratio
U.M. final May Consumer Sentiment/Expectations
Fed's Williams on "Monetary Policy-Theory & Practice & the Lower Bound on Interest Rates" @ Journal of Money, Credit & Banking 50th Anniversary (NY noon)
Baker-Hughes weekly US/North American Rig Count (1pm et)
USDA Farm Prices (3pm et)
Fed Reserve publishes Assets & Liabilities of Commercial Banks in US (4:15pm et)
    OVERNIGHT into US Fri. a.m. et:
        So. Korea May Trade Balance
Saturday, June 01 BoE TNS Inflation Next 12 Months
Sunday,    June 02     OVERNIGHT into US Mon. a.m. et:
         Aussie May AiG Performance of Mnftg, & CBA Mnftg PMI, CoreLogic HPI, May Commodity Index, Q1 Busines Inventories, ANZ Job Ads Corporate Profits
         Japan Q1 Capital Spending, Corporate Profits & Sales, May Official Reserves, Vehicle Sales, Manufacturing PMI  
         So Korea Nikkei May Mnftg PMI
         China Caixin May Mnftg PMI
         India Nikkei Markit May Manufacturing PMI
         Swiss May CPI, May Mnftg PMI
         Eurozone, France, Germany, Italy, Spain Markit Mnftg PMI
         Wards US May Motor Vehicle Sales

         UK Markit May Mnftg PMI, UK   Inflation Report Hearings
Monday, June 03 Canada May RBC Canadian Mnftg PMI
South Africa May Total Vehicle Sales
Brazil BCB Focus Market Readout & May Manufacturing PMI
Fed V.Chair Quarles on "The Next Stage in the LIBOR Transition" (pre-recorded video to Alternative Reference Rates Cmt (ARCC) & NYU Stern School of Biz (9:10am et NY)
US May Manufacturing PMI (9:45am et)
US ISM Manufacturing Index/Orders/Prices Paid/Employment (10am et)
US April Construction Spending
US Treasury Auctions $36B 3-, & $36B 6-month Bills (11:30am et--that's it for week)
Fed's Bullard on the "US Economy & Monetary Policy" @Union League Club of Chicago  (1:25pm et)
Brazil May Trade Balance
New Zealand Holiday--Queen's Birthday
    OVERNIGHT into US Tues. a.m. et:
         Fed's Daly
speaks @Symposium on Asian Banking & finance (Singapore,9:45pm et)
         New Zealand Q1 Terms of Trade Index
         S. Korea Q1 GDP, May CPI
         Aussie Q1 Imports/Exports/Current Account Balance, April Retail Sales Exports
         RBA (Aussie) MPC Rate Decision (06/04 local time)
         RBA Gov Lowe press conference post-RBA Meeting
         Spain Unemployment Report/Change
         Italy April Unemployment Rate/Change
         French April Gov't Budget Balance
         UK Markit/CIPS May Construction PMI, BRC May Retail Sales Monitor
         South Africa Q1 GDP
         Eurozone April Unemployment Rate, May CPI
         Publication of the Consolidated Financial Statement of the Eurosystem (15:00 cet)
         Mexican May CPI
Tuesday, June 04 US May Motor Vehicle Sales (Ford & GM report Qtrly, only)
Brazil April Industrial Productions
Fed's Evans welcome (8:45am), Fed Chief Powell opens (9:55am) Fed Framework for Monetary Policy Conference (Chicago Fed thru 5th)
Fed's Williams opens "Building Cultural Capital in the Financial Services Industry: Emerging Practices, Risks & Opportunities" @NY Fed Bank (8:30am et)
Redboook weekly retail store sales snapshot (8:55am et)
US April Factory Orders/Durable Goods Orders (10am et)
US Treasury Auctions 4-, & 8-week Bills (Values not yet announced)
Fed Gov Brainard panelist @ Fed Monetary Policy Conference   (Chicago after lunch)
Fed's Kaplan welcomes attendees to dinner reception @Fed Monetary Policy Conf.
    OVERNIGHT into US Wed. a.m. et:
         Aussie May AiG Performance of Services Index, CBA Services & Composite PMI
         Japan Nikkei May Services & Composite PMI
         Aussie Q1 GDP, + RBA's Heath speaks (Perth)
         China May Caixin Services & Composite PMI
         So Korea April Current Account
         Hong Kong May Manufacturing PMI
         National Bank of Poland MPC Meeting
         National Bank of Ukraine MPC Meeting
         National Bank of Serbia MPC Meeting & Rate Decision
         Eurozone, France, Germany, Italy May Services & Composite PMI
         UK May New Car Registrations, Markit/CIPS Services & Com;posite PMI, Official Fx Reserves
         Eurozone May PPI, April Retail Sales
Wed.       June 05 MBA weekly Mortgage/Refinance Applications
BoE's Ramsden speaks @BoE "Last orders: Calling time on LIBOR" Event
ADP May Private-Sector Employment Report
Fed Vice Chair Clarida opens Day #2 of Fed Monetary Policy Conference (9:45am et)
Fed's Bostic speaks on affordability w/Q&A @Atlanta Regional Housing Forum (9:45am)
Fed Gov Bowman testifies @Senate Banking Cmte (10am  D.C.)
Brazil Markit May Services & Composite PMI
US May Services PMI
US ISM non-Manufacturing Index (10am et)
Canada Q1 Labor Productivity
EIA weekly Petroleum/Gasoline/Distillates Report (10:30am et, w/e 5/30)
Fed releases Beige Book (2pm et)
Holidays in India & Singapore
    OVERNIGHT into US Thurs. a.m. et:
         New Zealand May QV House Prices, ANZ Commodity Price
         Aussie Apr Trade Balance
         Germany Apr Factory Orders, May Construction PMI
         BoE Gov Carney keynotes 2019 Institute of Int'l Finance (IIF) Spring Member Mtg (Tokyo)
         BoJ's Kuroda speaks @IIF Spring Membership Meeting (Tokyo)
         India RBI Interest Rate Decision, Reverse REPO rate. Cash Reserve Ratio
         Eurozone Q1 Unemployment, GDP, Gov't Spending, Household Consumption
         ECB MPC Rate/QE Decision (06/06 local time, 13:45cet, @Lietuvos bankas)
Thurs,      June 06 Challenger May US Job Cuts (7:30am et)
ECB post-Meeting Draghi + Coeure Press Conference
US April Int'l Trade Deficit (8:30am et)
Canada Apr Int'l Merchandise Trade, May Ivey PMI
Brazil May Auto Sales/Production
US weekly Jobless Claims
US Q1 Productivity & Costs
Fed's Kaplan
panelist @Boston College 4th Annual Carroll School of Management Finance Conference (8:40am et)
US Q2 Services Survey (10am et)
EIA Natural Gas Report
US Treasury Refunding Announcement (11am et)
Fed's Williams keynotes Peter McColough Series on Int'l Economics @Council on Foreign Relations on US Economy, Monetary Policy, Role of  NY Fed Bank (NY 1pm edt)
US Q1 Changes in Household Wealth (3pm et)
Fed's weekly Balance Sheet & US weekly Money Supply (4:30pm et)
South Korea Holiday
    OVERNIGHT into US Fri. a.m. et
        Fed's Daly
speaks/interacts w/students & faculty @Singapore Mngmnt  Univ  (12:20am et)
       Aussie AiG May Performance of Construction Index
       New Zealand Q1 Volume of All buildings SA
       Japan Apr Overall Household Spending, Labor Cash Earnings, May Bankruptcies
       China May Fx Reserves
       Aussie April Home Loans, Investment Lending, Owner-Occupied Loan Values, Fx
       Swiss May Unemployment Rate
       German April Industrial Production, Trade Balance, Current Account
       French April Current Account, Trade Balance, Industrial Production
       Eurozone Q1 Labor Costs
       UK Halifax May House Price Index (HPI)
       India Bank Loan & Deposit Growth, Fx Reserves
       Brazil May CPI, IGP-D1 Inflation Index
       UK P..M. May steps down from leadership of her party
       G7 Finance Ministers & Central Bank Governors Meeting
(Fukuoka Japan)
Friday,    June 07 US May Unemployment Report/Change/Participation/Avg Hrly Earnings  (8:30am et)
Canada May Unemployment Report/Change/Participation/Wages/Full/Part-time, Q1 Capacity Utilization
Mexico May CPI
US April Wholesale Trade--Inventories/Sales
Central Bank of Chile MPC Meeting
Baker-Hughes US/North American Rig Count (1pm et)
US April Consumer Credit (3pm et)
Holidays in China & Hong Kong (Tuen Ng Day)
Saturday,June 08 G20 Finance Ministers & Central Bank Governors Meeting, Symposiums on Int'l Taxation, Financial Innovation, Corporate Governance (Fukuoka Japan thru 9th)
06/13    SNB (Swiss) MPC Decision
                              06/18--19    FOMC meets
                                    06/19     FOMC Statement, Powell Press Conference, Updated member Forecasts

                                    06/20     BoE MPC Meets
                                                  BoJ MPC Meets
                                                  Norges Bank (Norway) MPS Rate Decision
                                   06/25      RBNZ (New Zealand) MPC Rate Decision
                                   06/27      Bank of Mexico MPC Rate Decision
                                                  Bk of Jamaica MPC Rate Decision
                            06/28--29       G20 Leaders' Summit

*FOMC 2019 Voting Members:  Chairperson Jerome Powell, as of 02/05/18, and ALL members of the FOMC Board of Governors are permanent voters: That includes Randall Quarles, & Lael Brainard, newly (Sept) sworn in Richard Clarida, plus New York Fed Pres, currently John Williams (Formerly of the San Francisco Fed) who replaced William Dudley, who retired from the bank on June 15, 2018.:New, revolving Regional Fed Bank leaders who are voters for 2018: Atlanta Fed Pres. Raphael Bostic, new in August 2017 (replaced Dennis Lockhart), former McKinsey exec Thomas Barkin, who assumed the title of Pres of Richmond Fed on 01/01/18, plus San Francisco Fed, without a leader, since Williams left for NY in July, named Mary Daly Pres/CEO as of 10/1/2018, who'll be a voter until Feb. The hole in the San Francisco Fed's hierarchy resulted in Esther George--a very vocal hawk--becoming a voting member of the FOMC, but she steps aside as of Mary Daly's swearing in, and returns as a voter in Feb 2019. Cleveland Fed's voter, Loretta Mester, a hawk, who wants rates raised at a quicker pace because she believes the Fed has, already, fallen behind the curve.  Richmond wound up with an opening, after Jeff Lacker resigned, in early April 2017, when it became known he'd (unintentionally) leaked sensitive FOMC discussions to Medley Advisors. Richmond operated with an Interim Pres, Mark L Mullinix, while searching for its new leader, Thomas Barkin, who arrived Jan 1st 2018.. Dissenters at the Dec. 2017 Meeting, Neel Kashkari & Charles Evans, are no longer voters in 2018.
               * HICP used in Europe, means Harmonized Index of Consumer Price