wall street in advance

June 2017  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,    June 11     OVERNIGHT into US Mon. a.m. et:
         New Zealand May House Sales & Card Spending
         Japan May PPI, Corporate Goods Price Index, April Core Machinery Orders
         Singapore April Retail Sales
         Aussie April Credit Card Purchases & Balances
         India April Industrial Production, Manufacturing Output + May CPI
         RBA's Ass't Gov Debelle speaks (Hong Kong)
         Italian April Industrial Production
Monday,   June 12 US Treasury Auctions $39B 3-, & $33B 6-month Bills (11:30am et)
US Treas. Auctions $24B 3-year Notes + reopened $20B 10-year Notes (1pm et)
US Treasury May Budget Statement (2pm et)
Holiday in Australia & Russia
    OVERNIGHT into US Tues. a.m. et:
          Japan Q2 BSI Large Manufacturing Conditions
         German May Wholesale Price Index
         Japan Manpower Q3 Survey
         China Manpower Q3 Survey
         Aussie NAB May Business Conditions
         French Q1 Non-Farm Payrolls
         Eurozone, Spain, German & Italian May CPI & HICP
         UK May CPI, PPI, Retail Price Index,  Inputs & Outputs, April House Prices
         German ZEW June Economic Assessments, Sentiment, Forecasts
Tuesday,  June 13 FOMC Meets (thru 14th)
NFIB Small Business Optimism Index
US May PPI--Final Demand
Redbook weekly Store Sales Snapshot
Brazil April Retail Sales
US Treasury Auctions reopened $12B 30-year Bonds  (1pm et)
    OVERNIGHT into US Wed. a.m. et:
         New Zealand May Food Prices, Q1 Current Account Balance, Debt/GDP Ratio, + May Farm Price Index
         South Korea May Unemployment Rate
        China May Retail Sales, Fixed Asset Investments, Industrial Production/ Capacity Utilization
        India May WPI Food, Fuel, & Manufacturing Inflation
        German May (F) CPI
        UK  ILO Q1 Unemployment Rate/Chang
e, May Jobless Claims, Claimant Count, Avg Weekly Earnings
        Eurozone April Industrial Production, & Q1 Unemployment/Change
        IMF's Lagarde & Bundesbank Pres Weidmann speak at conference (Frankfurt DE)
Wed.,       June 14 FOMC Statement, updated Forecasts (2pm est)
FOMC Chair Yellen Press Conference post-meeting
(2:30pm est)
MBA weekly Mortgage/Refinance Applications
South Africa April Retail Sales
US May Retail Sales

US April Business Inventories
Canada/Teranet/Nat'l Bank May Home Price Index
EIA weekly Petroleum/Gasoline/Distillate Stats
Brazil FX Flows
    OVERNIGHT into US Thurs. a.m. et:
          New Zealand Q1 GDP  + May Offshore Holdings
          Aussie June CPI, May Unemployment Rate/Change, RBA FX Transactions
          Swiss May PPI
          French & Italian May CPI & HICP
          RBA Bulletin Published & Ass't Gov  Debelle speaks (Sydney)
          SNB MPC Issues Rate Decision, Assessment & Rates Range(6/15 local time)
          SNB Financial Stability Report 2017 (Bern)
          Eurogroup meets (Luxembourg)
          EU Economic & Financial Affairs Council Meets (Luxembourg)
          EU FinMins Meet (Brussels)
         UK May Retail Sales
          Eurozone April Trade Balance
    BoE MPC Interest Rate Decision, Assessment, QE Targets & Mtg Minutes
Thursday, June 15 US weekly Jobless Applications
Philly Fed June Business Outlook Survey
Canada April Manufacturers Sales/Shipments
NY Fed June Empire State Manufacturing Survey
US May Import/Export Prices
US May Industrial Production/Capacity Utilization

Canada May Existing Home Sales
Russia Central Bank FX Reserves
NAHB June Housing Market Index
EIA weekly Natural Gas Report
US Treasury Refunding Announcement
US April TICS (4pm et)
US weekly Fed Balance Sheet & Money Supply
    OVERNIGHT into US Fri. a.m. et:
         China May FX Net Settlement
         Singapore May non-Oil Exports
         BoJ MPC Interest Rate Decision, QE Targets (06/16 local time)
         BoJ Post-meeting Press Conference
         Japan May Department Store Sales
         New Zealand ANZ Jun Consumer Confidence
         German May WPI
         Italy April Trade Balance
         Russian Central Bank June Interest Rate Decision
         EU 25 May New Car Registrations
         BoE Quarterly Bulletin

         India FX Reserves
         Eurozone May CPI, Q1 Labor Costs
Friday,      June 16 Quadruple Equity & Index Futures & Options Expire
US May Housing Starts/Building Permits
Atlanta Fed Business Inflation Expectations
Canada April Int'l Securities Transactions
U.M. June (P) Consumer Sentiment (10am et)
Fed's Kaplan speaks w/Q&A at Park Cities Rotary Club (Dallas 12:45pm)
Baker-Hughes weekly US/North American Rig Count (1pm et)
Quarterly Rebalance of S&P Indices on close
Annual Rebalance of the Nasdaq 100 on close
Annual Rebalance of Russell Indices on close

Assets & Liabilities at Commercial Banks in US
Saturday, June 17
Sunday,    June 18     OVERNIGHT into US Mon. a.m. et:
         So Korea May PPI
         UK Rightmove June House Prices
         RBA's Lowe panelist (Canberra)
         Japan May Trade Balance
         Aussie May New Motor Vehicle Sales
         China May Property/House Prices
         Eurozone April Construction Output
         UK-EU Brexit Summit (6/19 local time)
Monday,   June 19 NY Fed Pres. Dudley roundtable, on tour of his territory (Plattsburg NY 8am)
US Treasury Auctions $39B 3-, & $33B 6-month Bills  (11:30am et)
    OVERNIGHT into US Tues. a.m. et:
         Fed's Evans speaks
@NYU Money Marketeers w/Q&A (NY 7pm et)
         IMF 1st Dpty Mng Dir Lipton News Conference (Tokyo)
         Swiss May M3 Money Supply
        Japan Reuters June Tankan Index
         Aussie Q1 House Price Index
         RBA June Meeting Minutes
         Fed Vice Chair Fischer speaks at DNB Riksbank Macroprudential Conference Series (Amsterdam 3:15am et)
        Japan May Dept Stores & Supermarket Sales
        Swiss SECO Economic Forecasts
        South Africa Q1 Current Account
        German May PPI
        SNB's (Suisse) Jordan speaks on his bank's expansive monetary policy (Bern)
        Eurozone April Current Account
Tuesday,  June 20 Fed's Rosengren speaks on "Bad Zero: Financial Stability in a Low Interest Rate Environment" at DNB Riksbank Macroprudential Conference (8:15am etAmsterdam thru 21st) Riksbank's Ingves & Skingsley also speak
US Revised Q1 Current Account
Canada April Wholesale Sales
Redbook weekly Store Sales Snapshot
US Treasury Auctions $20B 52-week Bills (11:30am et)
Fed's Kaplan on current eco conditions @Commonwealth Club (San Francisco 3pm)
    OVERNIGHT into US Wed. a.m. et:
         BoJ Minutes of April 25--27 Meeting

         Aussie May Skilled Vacancies
         South Africa May CPI
         Japan April All Industry Activity Index, & May Machine Tool Orders
         BoJ's Kuroda speaks @Nat'l Ass'n of Shinkin Banks (Tokyo)
         UK May Public Finances and Central Gov't NCR, Net Public Sector Borrowing
Wed.        June 21 MBA weekly Mortgage/Refinance Applications
US May Existing Home Sales
Fed Gov Powell testifies
@Senate Banking Cmte on "Fostering Economic Growth: Regulator Perspective"
India M3 Money Supply
EIA weekly Petroleum/Gasonline/Distillates Report (w/e 6/16)
Brazil FX Flows
    OVERNIGHT into US Thurs. a.m. et:
         RBNZ (New Zealand) MPC Official Rate Decision
(6/22 local time) + Press Conference & May Net Migration & Credit Card Spending
         Swiss May Trade Balance
        ECB publishes Economic Bulletin
         UK CBI Jun Trends in Total Orders & Selling Prices
         Canada April Retail Sales w/+w/o Autos
         European Council Meeting (Brussels thru 23rd)
Thursday, June 22 Federal Reserve releases Mega-Bank Stress Test Results (4:30pm et)
US weekly Jobless Claims
Canada April Retail Sales
FHFA April House Price Index
EIA weekly Natural Gas Report
K.C. Fed Manufacturing Index (11am)
US Refunding Announcement (11am et)
US Treasury Auctions $5B Reopened 30-year TIPS
Cleveland Federal Reserve 2017 Policy Summit on Housing, Human Capital & Inequality (thru 23rd)
Russia Central Bank Reserves
Fed weekly Balance Sheet + US Money Supply (4:30pm et)
    OVERNIGHT into US Fri. a.m. et:
         Japan Nikkei Jun (P) Manufacturing PMI
         Singapore May Industrial Production & CPI
         French Q1 (F) GDP
         Markit Eurozone, French, German, Jun (P) Manufacturing, Services & Composite PMI

         Italy April Industrials Sales & New Orders
         India Deposit & Loan growth + FX Reserves
Friday,     June 23 Markit US Manufacturing, Services & Composite Flash PMI
Canada May CPI
US May New Home Sales
Fed's Bullard
on US Eco & Monetary Policy @IL Bankers Ass'n Annual (Nashville 11:15am)
Fed's Mester keynotes Summit on Housing, Human Capital & Inequality. Transforming Regional Economics: Growth & Eqiuty through Policy & Practice w/Q&A (Cleveland OH 12:40pm et)
Baker-Hughes weekly US/North America Rig Count (1pm et)
    OVERNIGHT into US Sat. a.m. et:
         German May Import Price Index
Saturday, June 24

         WEEKS AHEAD: 06/25
NY Fed Pres. Wm Dudley panelist at Andrew Crockett Memorial Lecture & AGM @BIS w/Q&A (Basel Suisse 8:15am)
                                           06/28   Federal Reserve Releases Mega-Bank CCAR Analysis
(Capital Adequacy)
                                            07/04 US Markets Closed, Independence Day

                                                       RBA (Aussie) MPC Meets
                                            07/05  Minutes of FOMC June 13--14th Meeting
                                           07/10   US Consumer Credit (3pm et)
                                           07/12   Beige Book
                                                       BoC (Canada) MPC Meets
                                           07/20   ECB MPC Meets
                                                       BoJ MPC Meets
                                    07/25--26   FOMC 2-day Meeting                                               

*FOMC 2017 Voting Members:  Four governors on the FOMC are permanent voters: Janet Yellen, Stanley Fischer, Lael Brainard, Jay Powell. Dan Tarullo was the 5th.vote at every meeting but he retired from the Board. (Board Governors now endure 3 vacancies that Trump hasn't filled). NY Fed Pres.also a permanent FOMC voting member, Wm Dudley for many years. The rest of the voters, in 2017, are 5 of the 11 regional Fed Pres.:New voters, for 2017: Philly Fed Pres. Patrick Harker, Minneapolis Fed Pres Neel "Too Big to Fail" Kashkari, Dallas Fed's Robert Kaplan, and Chicago 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.  Richmond Fed's Jeff Lacker resigned in early April 2017, when it became known he'd leaked sensitive FOMC discussions to Medley Advisors. Richmond is operating with an Interim Pres, Mark L Mullinix, while the search for a new leader continues. Raphael Bostic replaced Dennis Lockhart at the Atlanta Fed, when Lockhart left.

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