wall street in advance

June-July 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,    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
Sunday,    June 25     OVERNIGHT into US Mon. a.m. et:
         Fed's Williams
speaks on "Speed Limits and Stall Speeds: Fostering Sustain- able Growth in the U.S." w/Q&A @Univ of Sydney (Ultimo New So. Wales 1am et)
         ECB's Draghi, former FOMC Ben Bernanke, BoE's Carney & BoJ's Kuroda speak at ECB Forum (Sintra, Portugal)
         Fed's Dudley panelist at Andrew Crockett Memorial Lecture & AGM w/Q&A  @Bk for Int'l Settlements (BIS) (Basel, Suisse)
         BoJ Summary of Opinions at 06/15--16 Meeting
         Hong Kong May Trade Balance
         German IFO June Business Climate/Expectations
         UK BBA May Loans for House Purchases
Monday,   June 26 US May Durable Goods Orders/Shipments
Chicago Fed Nat'l Activity Indcx
Dallas Fed June Manufacturing Survey
ECB's Draghi hosts Dialogue with Youth (Lisbon)
US Treasury Auctions $39B 3-, & $33B 6-month Bills (11am et)
US Treasury Auctions $26B 2-year Notes (1pm et)
    OVERNIGHT into US Tues. a.m. et:
          Fed's Williams
speaks at the Econonic Ass'n of Australia Eminent Speaker Series on "The Global Growth Slump: Causes & Consequences" w/Q&A (4am et)
          New Zealand May Trade Balance
          China May Industrial Profits
          China Premier Li Keqiang speaks (Dalian China)
          RBA's Debelle speaks on Global FX Code
          UK CBI Total Reported Sales
          BoE's Carney speaks at Financial Stability Report Release Press Conference
Tuesday,  June 27 Redbook weekly Store Sales Snapshot
S&P Case Shiler 20-city April Home Price Index
Conference Board's June Consumer Confidence
Richmond Fed Manufacturing Index
Fed's Harker speaks on Eco Outlook & Int'l Trade @Euroepan Economics & Financial Centre Distinguished Speakers Series Semina w/Q&A(London 11:15am et)
Brazil May Current Account & Foreign Direct Investment
FOMC Chief Yellen discussant with Lord Nicholas Stern on global economic issues w/Q&A @British Academy (London 1pm et)
US Treasury Auctions $34B 5-year Notes
Fed's Kashkari participant in town hall w/Q&A (Houghton MI 5:30pm et)  
     OVERNIGHT into US Wed. a.m. et:
          Fed's Williams
speaks on The Global Growth Slump: Causes & Consequences w/Q&A @Economic Ass'n of Australia Eminent Speaker Series (Cranberra 3:30am)
          UK June Nationwide House Prices
          German May Import Price Index
          Swiss June ZEW Assessment & Expectations
          Spain May Retail Sales
          Italian une CPI & HICP + PPI
Wed.,       June 28 Federal Reserve Releases Mega-Bank CCAR Analysis (Capital Adequacy 4:30pm et)
US weekly Mortgage/Refinance Applications
US Int'l Trade Deficit
US NAR May Pending Home Sales

May Wholesale & Retail Inventories
EIA weekly Petroleum/Gasoline/Distillate Stats
US Treasury Auctions $13B reopened 2-year FRN (11am et)
US Treasury Auctions $28B 7-year Notes (1pm et)
BoC Dpty Gov Patterson speaks @CFA Society Calgary
BoC's Poloz speaks at ECB Panel
Brazil May Bank Lending & FX Flows
    OVERNIGHT into US Thurs. a.m. et:
         Japan May Retail Trade
         So Korea July Manufacturing BSi Index
         China BoP Current Account
         Aussie HIA May New Home Sales & Job Vacancies
         China May Swift Global Payments
         BoJ's Harada speaks (Tokyo)
         Spain Jiune CPI & HICP
         UK Net May Lending on Dwellings, Mortgage Approvals, M4, Net Consumer Credit
         German June CPI & HICP
          So Africa May PPI
Thursday, June 29 Final 17Q1 GDP (last estimated at 1.2%, up from original guess of 0.9%)
US weekly Jobless Claims
US Q1 Corporate Profits
Russia Central Bank Reserves
EIA weekly Natural Gas Report
Fed's Bullard speaks on US Eco & Monetary Policy at Official Monetary & Financial Institutions Forum (OMFIF)  w/Q&A (London 1pm)
USDA Farm Prices
US weekly Fed Balance Sheet & Money Supply
    OVERNIGHT into US Fri. a.m. et:
          New Zealand May Building Permits
          Japan May Jobless Rate, June CPI, May Industrial Production
          China Jun Manufacturing & Non-Manufacturing PMI
          Aussie May Private Sector Credit
          Japan May Vehicle Production, Housing Starts, Construction Orders
          UK June GfK Consumer Confidence
          German May Retail Sales, June Unemployment Rate/Change
          UK 17Q1 Current Account & GDP, April Index of Services, Q1 Total Business Investment
          Aussie May Housing Credit & Private Sector Credit
          Singapore May Bank Lending
          French Jun CPI, HICP, & PPI
          Eurozone June CPI
          Brazil Unemployment Rate
          So. Africa May Trade Balance
Friday,      June 30 US May Personal Income/Expenditures + PCE
Chicago PMI
Canada April GDP, May Industrial Product & Raw Materials Price Indexes
India Q1 Foreign Debt
U.M. Final June Consumer Sentiment
Baker-Hughes weekly US/North American Rig Count (1pm et)
Bank of Canada Q2 Senior Loan Officer Survey + Business Outlook for Future Sales
Saturday, July 01

         WEEKS AHEAD:  07/04 US Markets Closed, Independence Day
(Bonds, only, close early the 3rd)
                                                       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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