wall street in advance

May 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:
Sun.          May 19 OPEC & non-OPEC Producers Jt Minsterial Monitoring Cmte Meets (Jeddah Saudi Arabia)
Fed's Bostic opens Atlanta Fed 24th Financial Markets Conference (Amelia Island FL thru 21st)
Singapore Holiday
    OVERNIGHT into US Mon. a.m. et:
         UK Rightmove May House Prices, CBI Total Order & Selling Trends
         Japan Q1 (P) GDP, Private Consumption, Business Spending/CapEx, + Apr Supermarket Sales, March Industrial Production/Capacity Utilization
         Hong Kong  April Unemployment Rate
         China April Fx Settlement
         German April PPI
         Eurozone March Current Account
         ECB's Praet opens CEPR Leaders' Circle Event (London)
         BoE's Broadbent speaks @Imperial College Business School (London)
Monday,   May 20 Chicago April Fed Nat'l Activity Index (8:30am et)
Fed's Harker on US Eco Outlook w/Q&A @ Management Science 65th Anniversary Conference (Bostom 9:30am et)
US Treasury Auctions $36B 3-, & $36B 6-month Bills (11:30am et)
Brazil Federal Tax Revenue & Payrolls
Fed's Williams & Clarida participants @ "FedListens" roudtable on monetary policy strategy, tools, communications practices (1pm et NY)
Venezuela Voted for President, 1 year ago--and it remains unsettled since
Holidays in Singapore & Canada
FOMC Chief  Powell speaks @Atlanta Fed's Financial Markets Conference (7pm et)
    OVERNIGHT into US Tues. a.m. et:
         Japan Q1 Housing Loans, April Condominium sales
         Singapore Q1 GDP
         RBA (Aussie) Minutes of May Policy Meeting, Gov Lowe speaks (Brisbane)
         New Zealand Apr Credit Card Spending
         Spain Trade BAlance
         OECD European Economic Outlook
         Eurozone May (adv) Consumer Confidence
         ECB's de Guindos keynotes City Week "The International Financial Services Forum 2019" (London 10am local time)
Tuesday,  May 21 UK Inflation Report Hearings @Treasury Select Cmte
Redbook weekly store sales snapshot (8:55am et)
Consolidated Financial Statement of the Eurosystem Published
US April Existing Home Sales (10am et)
Fed's Evans speaks w/Q&A @Financial Markets Conference (Fernandlina Beach FL 10:45am et)
US Treasury Auctions $26B 52-week Bills (11:30am et)
Fed's Rosengren speaks @Economic Club of NY (11:30am et)
    OVERNIGHT into US Wed. a.m. et:
        New Zealand Q1 Retail Sales
        Japan Reuters May Tankan Index, April Adj Trade Balance, Mar Machine Orders
        BoJ's Harada speaks (Nagasaki)
        Fed's Bullard presentation on US eco outlook & monetary policy w/Q&A @ Foreign Correspondenets' Club of Hong Kong (HK 1am et)
        UK Apr CPI, Retail Price Index (RPPI), PPI, Central Gov't NCR, Public Finances & Net Borrowing, Mar House Price Index
        ECB Chief Draghi speaks @ECB Colloquium:"Monetary Policy in an incomplete Monetary Union," in ECB Economist Peter Praet's honor (9:30am cet, 05/22 local time Frankfurt DE)
       ECB's Praet on "Challenges to the single monetary policy and ways forward" @ECB Colloquium in his honor (Frankfurt @ECB 11:30 cet)
Wed.        May 22 MBA weekly Mortgage/Refinance Apps (7am et)
Canada Mar Retail Sales
Fed's Bostic & Kaplan open Jt Atlanta & Dallas Fed's "Technology-Enabled Disruption: Implications for Business, Labor Markets & Monetary Policy" (10:10am et Dallas to 23rd)
EIA weekly Petroleum/Gasoline/Distillates Report (11am et;  w/e 05/17)
FOMC Minutes of Meeting Ended 05/01 Released (2pm et)
    OVERNIGHT into US Thurs. a.m. et
        Aussie May CBA Manufacturing, Services & Composite PMI
        Japan Nikkei May (P) Manufacturing PMI
        NY Fed/Hong Kong Monetary Authority "Monetary Policy & Heterogeneity Conference" (HK thru 24th)
        German Q1 GDP, Private Consumption, Gov't Spending, Capital Investment
        Swiss Q1 Industrial & Construction Output
        French Q1 Unemployment Report
        Markit May (P) Eurozone, French, German, Italian Manufacturing, Services, Composite PMI
        German May IFO
current Biz Climate/Expections
        ECB Financial Stability Review
        UK April Retail Sales
        ECB Account of Monetary Policy Meeting April 9--10, 2019
        ECB's Draghi participant at 81st Plenary meeting of the Group of 30 (Madrid Spain)
        ECB's deGuindos speaks @ AFME: "Opportunities for European Banking & Capital Markets," organized by the Ass'n for Financial Markets in Europe (Frankfurt 10:40cet)
        Voting for 750 members of EU Parliament Starts (includes UK; thru 26th)
Thursday, May 23 US weekly Jobless Claims (8:30am et)
Canada Mar Wholesale Trade/Sales
South Africa May Interest Rate Decision
US Markit Flash May Manufacturing/Services/Composite PMI (9:45am et)
NAHB April New Home Sales (10am et)
EIA weekly Natural Gas Report (10:30am et)
K.C. Fed May Manufacturing Index (11am et)
US Treasury Refunding Announcement includes 2-, 5-., & 7-year Notes (11am et)
US Treasury Auctions $11B reopened 10-year TIPS (1pm et)
Fed's Daly, Barkin, Bostic & Kaplan  panelists @Jt Atlanta & Dallas Fed Techhnology-Enabled Disruption Conference (noon et, Dallas)
    OVERNIGHT into US Fri. a.m. et:
         New Zealand April Trade Balance
         Japan April CPI, March All Industry Activity Index
         Singapore Q1 GDP, April Industrial Production
         German April Import Prices
         UK April Retail Sales, CBI May Distributive Trades Survey
         India Bank Loan & Deposit Growth
Friday,      May 24 US April Durable Goods Orders/Shipments/Capital Goods Orders/Shipments (8:30am et)
Canada Q1 Corporate Profits
Mexican Mar IGAE Economic Activity
Russia April Unemployment Rate, Monthly GDP, Retail Sales
Baker-Hughes weekly US/North American Rig Count (1pm et)
US Bond Markets, only, Close Early (2pm et in advance of Memorial Day on Monday)
Equities Trade Regular Hours (close at 4pm et)
Fed weekly Balance Sheet & US weekly Money Supply (4:30pm et)
Saturday,  May 25 1st Anniversary of Europe's GDPR (includes Right to be Forgotten)
EU Parliamentary Elections
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
06/04    RBA (Aussie) MPC Rate Decision
                                     06/06    ECB MPC Rate/QE Decision
                                                   UK PM May steps down (announced 05/25)
                                     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

*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