wall street in advance

January 2018   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,     Jan 07 Fed's Williams @ASSA/AEA Annual Mtg on "What to Expect from the Lower Bound on Interest Rates: Evidence from Derivatives Prices"
    OVERNIGHT into US Mon. a.m. et:
         China Dec Foreign Direct Investment
         Aussie Dec. FX Reserves & AiG Dec Construction Index
         German Factory/Manufacturers' Orders
         South Africa Dec FX Reserves + Manufacturing PMI
         Swiss Dec CPI
         UK Halifax Dec. Home Price Index
         European Commission Conference on EU's 'next long-term budget after Brexit' (Brussels to Jan 9th) 
         Singapore Dec FX Reserves
         Eurozone Sentix Jan Investor, Industrial, Services & Business Economic Confidence/Sentiment/Outlook, & Nov. Retail Sales
        CFIB Q4 Outlook for Future Sales
Monday,   Jan 08 Fed's Williams on "Should the Fed Stick with the 2% Inflation Target or Rethink It?" @Brookings Institution "The Options: Keep It, Tweak It, or Replace It?" followed by Fed's Rosengren at same event, on "Next Steps: Learning from the Bank of Canada" (D.C.)
Bk of Canada Q4 Senior Loan Officer Survey
Conference Board's Dec Employment Trends Index
US Treasury Auctions $48B 3-, & $42B 6-month Bills
Fed's Bostic on Economic Outlook @ Rotary Club of (Atlanta)
TD Ameritrade US IMX
US Consumer Credit
   OVERNIGHT into US Tues. a.m. et:
        New Zealand REINZ Dec House Sales
        Japan Nov Labor Cash Earnings, Dec Consumer Confidence
        UK BRC Dec Like-for-Like Sales
        Aussie Nov Building Approvals & Job Ads
        German & French Merchandise Trade Balance, Industrial Production
        SNB (Swiss Nat'l Bk) Preliminary Full Year Results, Dec. Unemployment Rate,  Nov Adjusted Retail Sales
       Italy Nov Unemployment Rate
       Brazil Nov Retail Sales
       South Africa Dec Total Vehicle Sales
       Eurozone Nov. Unemployment Rate
Tuesday,   Jan 09 US NFIB Jan. Business Optimism Index
Canada Dec. Housing Starts
Redbook weekly Store Sales Snapshot
US Nov. JOLTS (Job Openings & Turnover)
Fed's Kashkari
moderated Q&A hosted by Cargill (CAG)
US Treasury Auctions $24B 3-year Notes
    OVERNIGHT into US Wed. a.m. et:
         South Korea Dec Unemployment Rate
         Aussie NAB Business Confidence
         China Dec. PPI & CPI
         Swiss Dec FX Reserves, Real Estate Index of Q4 Family Home
         China Dec Aggregate Financing & Money Supply, New Yuan Loans
         ECB Minutes of the December MPC Meeting
         German Dec Wholesale Price Index
         French Industrial Production
         UK Nov. Industrial Production, Construction & Manufacturing Output, Nov. Merchandise Trade Balance 
         Germany Auctions 10-year Bunds
         Brazil Dec CPI
         Russia GDP & CPI
Wed.,        Jan 10 MBA weekly Mortgage/Refinance Applications
Fed's Evans
on Economy & Policy Outlook @ Lake Forest-Lake Bluff Rotary Club
Fed's Kaplan discussion @Urban Land Institute Emerging Trends Breakfast
US Dec. Import/Export Prices
Canada Nov Building Permits
Fed's Kaplan discussion on Weitzman Annual Retail Forecast (Dallas)
Brazil FX Flows
Atlanta Fed Business Inflation Expectations
US Nov (F) Wholesale Inventories & Trade
EIA weekly Petroleum/Gasoline/Distillates Status (w/e 01/05/18)
US Treasury Auctions $20B reopened 10-year Notes
Fed's Bullard on US Economy & Monetary Policy (St. Louis)
Swedish  Central Bank minutes of its MPC meeting
    OVERNIGHT into US Thurs. a.m. et:
         New Zealand QV Dec House Prices
         Aussie Retail Sales
         Italian Retail Sales
         Eurozone & Spanish Nov Industrial Production
         Eurogroup PRes Dijsselbloem on future of euro zone @LSE (London)
         ECB Releases Account of December Rate Meeting
         Canada Nov New Housing Price Index
Thursday, Jan 11 NY Fed Pres Dudley keynotes at SIFMA "US Economic Outlook: What's in Store for 2018"
Fed's Bullard on US Economic Outlook & Monetary Policy  (St Louis)
US weekly Jobless Claims
US Dec. PPI--Final Demand
EIA weekly Natural Gas Report
US Treasury Auctions $12B Reopened 30-year Bonds
US Treasury Budget (Im) Balance
Fed weekly Balance Sheet (shrinking more quickly, now) & Money Supply
    OVERNIGHT into US Fri. a.m. et:
         NY Fed Pres. Dudley on US Economic Outlook
         New Zealand Nov Building Permits.
         Japan Nov Current Account Balance, Trade Balance, Bank & Trust Lending
         China Dec Trade Balance
         Singapore Q4 GDP
         ECB Survey of Professional Forecasts
         Aussie Nov Retail Sales, Credit Card Purchases/Balances 
         China New Yuan Loans & Aggregate Loans & Foreign Direct Investment
         Japan Dec Economy Watchers Current Index
         Singapore Nov Retail Sales
         German (CY17) GDP & Public Finances/GDP Ratio
         Eurozone, French, German, Italian & Spanish Dec CPI + HICP, Nov Industrial Production
         Swedish Central Bank Dpty Gov Skingsley discusses economic situation & monetary policy @Skagen Fonder's New Year Conference (Stockholm)
         India Nov Industrial Production & Manufacturing Output +Dec CPI
         Canada Teranet/National Bank Dec Home Price Index
         BoE Economist Silvana Tenreyro @ '18 Peston Lecture at Queen Mary Univ of London on "The Fall in Productivity Growth: Causes & Implications" (London)
Friday,      Jan 12 US Dec CPI
US Dec Retail Sales
US Wholesale & Retailer Inventories
China Dec Trade Balance with US
Baker-Hughes weekly US/North American Rig Count
(1pm et)
Fed's Rosengren Keynotes @ Global Interdependence Center (GIC) Event at which he'll receive the GIC Frederick Heldring Award for Global Leadership (San Diego CA) 
Saturday,  Jan 13 US 3-day Martin Luther King Jr Holiday Weekend.
Sunday,    Jan 14     OVERNIGHT into US Mon. a.m. et:
         German Dec Wholesale Prices
         South Korea Dec Import/Export Price Index + Trade Balance
         Aussie TD Securities Dec Inflation
         India Dec Food, Fuel, & Manafacturing Inflation
         Japan Dec (P) Machine Tool Orders   
         French Dec CPI & HICP
         Eurozone Nov. Trade Balance (Percent with UK?)
Monday,   Jan. 15 US Markets Closed Martin Luther King Jr Holiday
Canada Dec Existing Home Sales

BoE's Tenreyro delivers Peston Lecture on "The Fall in Productivity  Growth: Causes & Implications @Queen Mary Univ (London)
    OVERNIGHT into US Tues. a.m. et:
         New Zealand Dec Electronic Card Retail Spending
         India Nov Trade Balance
         Japan Dec Corporate Goods Price Index, PPI. Nov Tertiary Industry Index
         Aussie Dec New Motor Vehicle Sales
         German Dec (F) CPI & HICP +WPI
         French Gov't Nov Budget Balance
         Italy Nov Trade Balance + Dec CPI & HICP
         UK Dec CPI, Retail Price Index, PPI, & Nov House Price Index
         BoE Dpty Gov Woods
speaks @Parliament treasury committee
         South Africa Nov Mining/Gold Production
Tuesday,   Jan 16 Empire State Manufacutring Survey
US Treasury Auctions $48B 3-, & $42B 6-month Bills +$45B 4-week Bills
Swiss Nat'l Bank Chair Jordan speaks @Zurich Univ of Education
    OVERNIGHT into US Wed. a.m. et:
         Japan Nov Machine Ordes
         Aussie Nov Home Loans & Investment Lending, Value All Loans, Jan Westpac Consumer Confidence Index
         Singapore Dec non-Oil Exports
         EU 25 Dec New Car Registrations
         Eurozone Nov Construction Output, Dec (F) CPI & WPI
         South Africa Nov Retail Sales
Wed.         Jan 17 MBA weekly Mortgage/Refinance Applications
US Dec  Industrial Production/Capacity Utilization
Russia Nov Trade balance
Redbook weekly Store Sales Snapshot
NAHB Jan Housing Market Index
BoC (Canada) Monetary Policy Report, Rate Statement, Interest Rate Decision

BoC Gov Poloz & Dpty Gov Wilkins press conference on BoC activity
Federal Reserve Beige Book (2pm et)
Fed's Evans + Fed's Kaplan in moderated discussion @Am. Council of Life Insurers Exec Roundtable (Palm Bch FL 3pm et)
Fed's Mester on monetary policy communications @Tangri Lecture at Rutgers Univ w/Q&A (4:30pm et New Brunswick NJ)
    OVERNIGHT into US Thurs. a.m. et:
         Aussie Dec Unemployment Rate/Change/Participation/Part-time +RBA FX
         Aussie HIA New Home Sales
         China Dec Property/House Prices, Q4 GDP, Dec Retail Sales & Fixed Asset Investments, Industrial Production
         South Korea Jan Interest Rate Decision
         Japan Nov (F) Industrial Production/Capacity Utilization
         Hong Kong Dec Unemployment Rate
         Russian Central Bank FX Reserves
         South Africa Jan Interest Rate Decision, Prime Rate (current 6.75%)
         UK Dec RICS House Price Balance
         Bk of France Gov de Galhau
annual start-of-year address to financial sector
Thursday, Jan 18 US Dec Housing Starts/Building Permits
US weekly Jobless claims
Philly Fed Jan Business Outlook Survey/New Orders/Employment/Prices Paid
ECB's Coeure panelist (Frankfurt)
EIA weekly Natural Gas Report (10:30am et)
EIA weekly Petroleum/Gasoline/Distillates Report (11am et)
US Treasury Auctions $13B 10-year TIPS
US Treasury Refunding Announcement
Fed's weekly Balance Sheet & US Money Supply
    OVERNIGHT into US Fri. a.m. et:
          New Zealand Dec Business & Manufacturing PMI
          Japan Dec Dept Store Sales
          German Dec PPI
          Swiss Dec Producer & Import Prices
          Eurozone Nov Current Account
          UK Dec Retail Sales
Friday,       Jan 19 Canada Nov Manufacturing Sales & Int'l Securities Transactions
U.M. Prelim. Jan '18 Consumer Sentiment (10am et)
Baker-Hughes weekly North American/US Rig Count (1pm et w/e 01/12)
Saturday,  Jan 20

         WEEKS AHEAD:  
      01/22--23           BoJ MPC Meets
                                                      01/25           ECB MPC Meets
                                                      01/26           Riksbank (Swede) Meets
                                               01/30--31      FOMC Meets
                                                      02/08           BoE MPC Meets

*FOMC 2018 Revolving Voting Members: The Chairperson Jerome Powell as of 02/03/18, and ALL members of the FOMC Board of Governors are permanent voters: When Janet Yellen resigns, and Jerome Powell takes her place as chairperson, Feb. 03, 2018, that will include Randall Quarles, & Lael Brainard, plus New York Fed Pres., currently William Dudley, who plans on retiring in 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 veterans John Williams, who became Pres of the San Francisco Fed after Janet Yellen became Fed Chairperson, and Cleveland Fed's Loretta Mester, a very vocal bear 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 leaked sensitive FOMC discussions to Medley Advisors. Richmond operated with an Interim Pres, Mark L Mullinix, while searching for a new leader. Raphael Bostic replaced Dennis Lockhart at the Atlanta Fed, when Lockhart left. Dissenters at the Dec. 2017 Meeting, Neel Kashkari & Charles Evans, are no longer voters in 2018. Hawk Mester votes in 2018..