wall street in advance

MAY 2017  Economic Statistics
and Other Economic Influences

TUESDAYS:
                Weekly Chain Store Sales*
                 Average Hourly Earnings*
                 API Weekly Gas/Oil Stockpiles Report*  **
(4:30p.m.)
    WEDNESDAYS:
                
Mortgage Applications  Data
                 EIA Weekly Report on Gas & Oil Stockpiles* (10a.m.)
    THURSDAYS:
                 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,      April 30 China April Manufacturing & Non-Manufacturing PMIs
    OVERNIGHT into US Mon. a.m. et:
         AIG April (Aussie) Performance of Manufacturing +CoreLogic House Price Index + TD Securities Inflation + RBA Commodity Index
         Japan April Official Reserves, Nikkei Manufacturing PMI, Vehicle Sales
         South Korea April Trade Balance
         Swiss March Retail Sales & April Total Sight Deposits
Monday,      May 01 US March Personal Income/Outlays
US April Manufacturing PMI
US April Manufacturing ISM/employment/prices paid/new orders
US March Construction Spending
Treas Sec'y Mnuchin speaks
Canada RBC & Markit April Manufacturing PMI
US Treasury Auctions $39B 3-, & $33B 6-month Bills (that's it for the week!)
Holidays in UK, India, Russia, China, Spain, France, Switzerland, So. Africa, Brazil, Hong Kong, Germany, SIngapore, So. Korea, for either May Day or Labour Day
    OVERNIGHT into US Tues. a.m. et:
         BoJ Minutes of 03/15--16 Meeting
& Monetary Base at End of Period (04/28)
         BoJ's Kuroda speaks at Asian Deveopment Bank Institute/Univ. of Pennsylvania Jt Global Think Tank Summit (Yokohama Japan thru 3rd)
         Japan Nikkei April Services & Composite PMI
         China Caixin April Manufacturing PMI
         South Korea April CPI + April Nikkei Manufacturing PMI
         RBA (Aussie) MPC Meeting Statement/Rate Decision (05/02 local time)
         India Nikkei Markit April Manufacturing PMI
         BoJ Core CPI (y/o/y)
         German March Import Price Index
         Eurozone, France, Italy, Germany, & Spain Markit April Manufacturing PMI
         Swiss SVME April PMI
        Italy March Unemployment Rate
         UK Markit April Manufacturing PMI
         Eurozone March Unemployment Rate
         ECB Regulaton Chief Nouy
panelist (Vienna)
         South Africa April Vehicle Sales
         Singapore April Manufacturing PMI
Tuesday,    May 02 US April Motor Vehicle Sales
FOMC 2-day Meeting Starts
(thru 3rd)
Redbook weekly US Store Sales Snapshot
Brazil April Markit Manufacturing PMI + Trade balance
   OVERNIGHT into US Wed. a.m. et:
         New Zealand Q1 Unemployment Report/Change/Wages, QV April House Prices
          UK BRC April Shop Price Index
          AIG (Aussie) April Performance of Services
          Spain Unemployment Rate/Change
          German April Unemployment Rate/Change
          UK Markit/CIPS April Construction PMI
         Eurozone 17Q1 (Adv) GDP, March PPI
          ICMA (Int'l Capital Market Ass'n) Annual General Meeting/Conference (Luxembourg thru 5th)
Wed.,         May 03 FOMC post-Meeting Statement (2pm et)
MBA weekly US Mortgage/Refinance Applications
ADP April Employent Report
Brazil March Industrial Production + FX Flows
US Treasury Refunding Announcement includes 3-, 10-, & 30-year (8:30am et)
US April Services PMI
US April non-Manufacturing ISM
US weekly Petroleum/Gasoline/Distillates Report (w/e 4/28)
Holidays in Hong Kong, South Korea & Japan
    OVERNIGHT into US Thurs. a.m. et:
         New Zealand ANZ April Commodity Price
         Aussie March Trade Balance
         China Caixin April Services & Composite PMI
         RBA (Aussie) Gov Lowe speaks
         India Nikkei April service PMI
         Russia April Markit Services PMI
         Norges Bank (Norway) MPC Meeting Announcement (05/04 local time)
         Markit Eurozone, France, Germany, Italy, & Spain Services & Composite Apr. PMI
         ECB's Board Member Mersch speaks at Conference (Luxembourg)
         South Africa Standard Bank April PMI
         UK April New Car Registrations, Markit/CIPS Services & Composite PMI
         BoE April Official Reserves, March Net Consumer Credit, Mortgage Approvals, M4 Money Supply
        Asian Development Bank's 50th Annual Meeting (thru May 7th, Yokohama Japan)
         Eurozone Mar Retail Sales
Thursday,  May 04 US April Chain Store Sales (9 still report)
Challenger April Job-Cut Report
US March International Trade Deficit
Canada March Int'l Merchandise Trade Balance
US weekly Jobless Applications
US 17Q1 (P) Productivity & Costs
Russia FX Reserves
US March Factory Orders
US (F) March Durable Goods Orders/Shipments
EIA weekly Natural Gas Report
Former Fed Plosser & John Taylor speak @Hoover Institution Foundations of Monetary Policy Conference
US Fed weekly Balance Sheet & US Money Supply
    OVERNIGHT into US Fri. a.m. et:
         BoC Gov Poloz speaks
(Mexico)
         Aussie AiG April Performance of Construction Index, HIA Mar. New Home Sales
         India FX Reserves
         ASEAN FinMins & Central Bank Governors/Deputies Joint Meeting (Tokyo to May 5th)
         ECB's Praet speaks (Brussels)
         ECB Chief Draghi speaks at an award ceremony (Lausanne Suisse)
         RBA (Aussie) post-Meeting Statement on Monetary Policy
         Swiss/UBS Q1 Real Estate Bubble Index + April FX reserves
         Markit Eurozone, German, French & Italian Apr. Retail & Construction PMI
         European Commission Pres Juncker & EU Council Pres Tusk speak (Florence)
    
Friday,       May 05 US April Unemployment Report/Change/Participation/Hrly Earnings
Canada April Employment Report/Change/Participation/Wages + Ivey PMI
Fed V.Ch Fischer speaks at Hoover Institution's Structural Foundations of Monetary Policy: A Policy Conference (11:30am et Stanford CA)
Canada Ivey April PMI
Brazil April Auto Production/Sales
Fed's Williams keynotes Shadow Open Market Cmte (SOMC) Spring Meeting: "Reforming the Fed & Government-Sponsored Enterprises" w/Q&A (NY 12:45pm)
Baker-Hughes weekly U.S./North AmericaRig Count (1pm for w/e 4/28)
FOMC Chief Yellen on "125 Years of Women's Participation in the Economy" at Brown Univ. (1:30pm  Providence RI)
Fed's Bullard, Evans & Rosengren panelists @Monetary Policy Conference w/Q&A (starting 1pm)
US March Consumer Credit (3pm -Debt really!)
Holidays in South Korea & Japan
Saturday,  May 06 UK Halifax April House Prices
BoJ's Kuroda speaks @Asian Development Bank 50th Annual Meeting
Fed's Williams debates "Has the 'Neutral' Interst Rate Declined and How Does that Affect Fed Decisions?" at SIEPR- Hoover Institution Joint Monetary Policy Conference w/Q&A, John Taylor moderates (3:30pm  SIEPR=Stanford Institute for Economic Policy Research)
Chinese & Japanese FinMins & Central Bankers Meet (Tokyo)
BoJ's Kuroda & Philippines Central Bank gov Tetangco roundtable participants at Asian Development Bank/BoJ Joint Session
Sunday,     May 07 French Presidential Run-off Election between LePen & Macron
     OVERNIGHT into US Mon. a.m.et:

           China April Foreign Direct Investment, Current Account, Trade Balance
           Aussie Mar Building Approvals, April NAB Business Conditions
           German March Factory Orders
           So Africa April FX Reserves
           UK April Halifax House Price Index
           Eurozone Sentix May Investor Confidence
           Hong Kong April Fx Reserves
           Singapore April FX Reservces
Monday,     May 08 Fed's Bullard speaks at Fed Bk of Atlanta's 22nd Annual Financial Markets Conference on "Shifting Sands of Low Interest Rates" (Fernandina Bch FL)
Canada April Housing Starts
Fed's Mester on Eco Outlook & Monetary Policy at Chicago Council on Global Affairs Public Breakfast--From Main Street to Wall Street: Economic Growth, Monetary Policy & the Federal Reserve (Chicago)
BoC Review
Fed's LMCI (Labor Market Conditions Index)
US Treasury Auctions $29B 3-, & $33B 6-month Bills
TD Ameritrade IMX
    OVERNIGHT into US Tues. a.m. et:
          UK BRC Like-for-Like April Sales
          New Zealand April House Sales
          Japan March Labor Cash Earnings
         Aussie NAB Business  Confidence, March/Q1 Retail Sales
         Japan 10-year JGB Auction
         Swiss April Unemployment Rate
         German March Industrial Production, Trade Balance, Current Account
         French April CPI, March Government Budget Balance
         Italy March Retail Sales
         South Africa Q1 Unemploy,ent Rate
Tuesday,   May 09 NFIB Small Business Optimism Index
Redbook weekly Chain Store Sale Snapshot
Canada March Building Permits
US JOLTS (Labor Turnover  & Quits)
US Wholesale Trade
Fed's Rosengren keynotes Risk Managament for Commericial Real Estate Conference @NYU Stern School of BUsiness (NY 1pm)
US Treasury Auctions $24B 3-year Notes
Fed's Kaplan speaks Dallas Regional Chamber Lower Middle Market Investment Summitw/Q&A (Dallas TX 4:15pm)
    OVERNIGHT into US Wed. a.m. et:
         New Zealand April Card Spending
         BoJ Summary of Opinions at 4/26--27 Meeting
         China April Money Supply, New Yuan Loans, & Aggregate Financing, CPI & PPI
         French March Current Account, Trade Balance, Industrial Production
         BoJ's Kuroda Economic Outlook speech
         Italy March Industrial Production
         Swedish Central Bank Publishes Minutes of April 26th Meeting
         ECB's Draghi speaks at Dutch Parliament
Wed.         May 10 MBA weekly Mortgage/Refinance Applications/Rates
US Import/Export Prices
Brazil April CPI & FX Flows
Atlanta Fed Business Inflation Expectations
EIA weekly Petroleum/Gasoline/Distillates Stats
Fed's Rosengren keynotes Jt Meeting of Lake Champlain REgional Chamber & Central Vermont Chamber of Commerce (SO. Burlington VT noon)
US Treasury Auctions $23B 10-yr Note
US Treasury Budget
    OVERNIGHT into US Thurs. a.m. et:
         RBNZ Gov. Wheeler
Speaks
         UK RICS April House Price Balance
         Japan March Current Account & Trade Balance, April Lending, & Bankruptcies
         Swiss April Consumer Price Index
         Germany April WPI
         ECB Economic Bulletin
         UK March Industrial & Manfuacturing Production, Construction Output, Trade Balance
        South Africa March Gold/Mining Production, Manufacturing Production
       EU Commission Economic Forecasts
        NY Fed Pres. Dudley
speaks on Benefits & Challenges from Globalization at the  event held by US-India Business Council, Conference of Indian Industry & Bombay Stock Exchange (Mumbai India)
         BoE MPC Rate Deicision, QE Targets, Inflation Report  (May 11th local time)
         IMF Chief Economic Maurice Obstfeld speech at Geneva Graduate Institute
         G-7 Finance Ministers Meet (Southern Italy to May 13th)
         RBNZ (New Zealand) MPC Interest Rate Decision (11th Local Time)
         SNB's Jordan & FinMin Maurer speak at Private Banking event
         EU Foreign Affairs Council Meets (Brussels)
Thursday, May 11 UK NIESR April GDP
India April Trade Balance
US Weekly Jobless Claims
US April PPI-Final Demand

NY Fed selling up to $200m of Treasuries maturing in 4--6 years from today (This is a Test--Just a Test--of the desk's readiness)
Canada March New Housing Price Index
Brazil March Retail Sales
EIA weekly Natural Gas Report
US Refunding Anouncement
US Treasury Auctions $15B 30-yr Bonds (1pm et)
Fed weekly Balance Sheet/Money Supply
    OVERNIGHT into US Fri. a.m. et:
         Aussie March Credit Card Purchases/Balances
         New Zealand non-Resident Bond Holdings, April PMI + Offshore Holdings
         BoJ Harada panelist in Tokyo
         German Q1 (Prel) GDP, April CPI , HICP
         Japan Machine Tool Orders
         French Non-Farm Payrolls
         Spanish April CPI, HICP
         Hong Kong Q1 GDP
         Eurozone Mar. Industrial Production
         India March Cumulative Industrial Production, Bank Loan & Deposit Growth,
Manufaturing Output & April CPI
         Singapore March Retail Sales
        
Friday,       May 12 Canada Teranet/National Bank April Home Price Index, CPI
US April CPI
US April Retail Sales

Russia March Trade Balance
Fed's Evans panelist on current eco conditions & monetary policy w/Q&A at 45th ACi Financial Markets Association World Conference ECB's Lane also speaks  (Dublin Ireland)
US Business Inventories
U.M. Preliminary May Consumer Sentiment (10am et)
Fed' Harker speaks on "Economic Outlook" at Drexel Univ. Urban Economics Policy Conference w/Q&A (Philadelphia PA 12:30pm et)
Baker-Hughes weekly US/North American Rig Count (1pm et)
Saturday,  May 13 German April Wholesale Price Index

         WEEKS AHEAD: 
05/24     BoC MPC Meets
                                                       FOMC Minutes of 05/02--03 Meeting

*FOMC 2017 Voting Members:  Five governors on the FOMC are permanent voters: Janet Yellen, Stanley Fischer, Lael Brainard, Jay Powell and Dan Tarullo.vote at every meeting. (Board Governors endure 2 vacancies that Senate refuses to confirm).  NY Fed pres.also a permanent FOMC voting member. The rest of the voters, in 2017, are 5 of the 11 regional Fed Pres.:New voting members, for 2017, include Philly Fed Pres. Patrick Harker, Minneapolis Fed Pres Neel "Too Big to Fail" Kashkari, Dallas Fed's Robert Kaplan, and Chiago Fed Pres Charles Evans.  Evans was last a voter in 2015. The other 3 are voters for the first time. Loretta Mester (Cleveland), Eric Rosengren (Boston), James Bullard (St. Louis) and Esther George (Kansas City) have lost their votes in 2017. In an Oct. speech, Harker said he would have preferred if rates had been raised at the prior FOMC meeting. Kaplan was a 23-yr veteran of Goldman Sachs before winding up at Harvard Business School. Mester & George are hawks that dissented at several 2016 meetings until the 2016 rate hike announced 12/14 but aren't voters in 2017.  
                     

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