wall street in advance

May 2018 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,    May 13
    OVERNIGHT into US Mon. a.m. et:
         Japan April Corporate Goods Price Index, Mar.Loans & Discounts
         German April Wholesale Price Index
         Aussie Mar Credit Card Purchases/Balances
         Japan April Machine Tool Orders
         ECB's Coeure honors Charles Wyplosz @ICMB Geneva Conference (Geneva)
         ECB's Lautenscchlager speaks @Danmarks Nationalbank Confererence (Copenhagen)
         BoE Gov Carney & ECB's Praet speaking @BoE's Gender & Career Progression Conference (London)
         Fed's Mester (hawk) speaks at GIC "Central Banking Series with Banque de France" (2:45am et)
         Norjes Chief Olsen @Parliamentary hearing before Standing Cmte on Finance & Eco Affairs of the Storting (Oslo)
        
Monday,  May 14 Canada Teranet/National Bank April Home Price Index
US Treasury Auctions $48B 3-, & $42 B 6-month Bills
Fed's Bullard presentation @ CoinDesk's Consensus 2018 (9:40am et NY)
    OVERNIGHT into US Tues. am. et
         RBA's (Aussie) Debelle speaks (Sydney)
         RBA May Meeting Minutes + Debelle speaks to HK forum via Video Link
         China April Retail Sales, Industrial Production, Fixed Assets
         German 18Q1 GDP + May ZEW Survey of Current Situation & Expectations
         Swiss April Producer & Import Prices
         UK Mar. ILO Unemployment Rate/Change/Weekly Earnings +April Jobless Apps
         Eurozone  Q1 GDP & Mar Industrial Production
Tuesday,  May 15 US April Retail Sales
Canada April Existing Home sales
Empire State NY Fed Manufacturing Survey
US Senate Banking Cmte hearings on nominations to the Federal Reserve Bank Board of Governors of Richard Clarida & Michell Bowman
Redbook weekly store sales snapshot
US Manufacturers', Distributors, & Retail Inventories
NAHB May Housing Market Index
Fed's Williams speaks at Economic Club of Minnesota w/Q&A (1:10pm MN)
US TICS
    OVERNIGHT into US Wed. a.m. et:
         Japan Q1 (P) GDP, Private Consumption,
+ Business Spsending
         Aussie Q1 Wage Price Index + May Consumer Confidence
         China April New Home Prices
         Japan March Industrial Production/Capacity Utilization
         Bank of Iceland Announces Interest Rate Decision (Reykjaavik)
         Eurozone & German  April CPI
         BoE/ESCoE/ONS Conference on Economic Measurement (05/16-thru 17) 
         ECB's Draghi & Praet deliver remarks at ECB Conference honoring departure of  ECB V.P. Constancio (Frankfurt)
         Bk of Finland member Nykanen comments on Finland's financial stability
Wed.,       May 16 MBA weekly Mortgage/Refinance Applications
Canada March Manufacturing Sales
US April Housing Starts/Building Permits
Fed's Bostic
Economic Update w/Q&A (8:30am et Augusta GA)
US April Industrial Production/Capacity Utilization (9:15am)
Atlanta Fed Business Inflation Expectations (10am)
EIA weekly Petroleum/Gasoline/Distillates Report (w/e 05/10)
BoC's Schembri speaks at CFA Society of Ottowa Economics Ass'n (Ottawa)
Fed's Bullard opens the Homer Jones Memorial Lecture (St Louis MO 6:30pm)
    OVERNIGHT into US Thurs. a.m.et:
         New Zealand Q1 PPI Output/Input
         Japan Q1 Housing Loans, Mar. Machine Orders, April Dept Store Sales
         Aussie April Unemployment Rate/Change/Participation+May Consumer Inflation Expectedd & RBA April FX Transactions
         EU 25 April New Car Registrations
         ECB's (outgoing) VP Constancio, ECB's Laeven, and Irish CB Chief Lane + Peterson Institute's Adam Posen @ECB's 3rd Annual Macroprudential Policy & Research Conference (Frankfurt, 05/17 local time)
        ECB's Chief Economist, Haldane closes BoE/ESCoE/ONS Conference (5/17 local time)
  
Thursday, May 17 US weekly Jobless Applications
Canada March Int'l Securities Transactions+ADP April Private Payrolls Report
Philly Fed May Business Outlook Survey (8:30am)
18Q1 US E-Commerce Sales
EIA weekly Natural Gas Report
Fed's Kaplan speaks @Richardson Chamber of Commerce Annual Mtg (TX)
Fed's Kashkari w/Q&A Q&A w/Exec Dir.of MN Home Ownership Center (10:45am)
US Treasury Auctions $11B reopened 10-year TIPS
Bk of Mexico MPC  Rate Decision
US Treasury Refunding Announcement
Fed weekly Balance Sheet & US Money Supply (4:30pm et)
    OVERNIGHT into US Fri. a.m. et:
         Japan April CPI
         China April FX Net Settlement
         German April PPI
         Eurozone Mar. Current Account & Trade Balance
         Fed's Mester Keynotes 2nd Day of 3rd Annual ECB Macroprudential Policy & Research Conference on 'The Limits & Overlaps of Macroprudential & Monetary Policy' (3:45am et 05/18 local time, Frankfurt Germany)
Friday,      May 18 Canada April Retail Sales + CPI
Fed's Kaplan in Q&A session at 12th Annual U of TX Dallas Project Mngmnt Symposium (Richardson TX)
Fed Gov Brainard on "Community Reinvestment Act Moerdernation" before Ass'n for Neighborhood & Housing Development 18th Annual Communiuty Develpment Conference (NY)
Baker-Hughes US/North American Rig Count (1pm et)
Saturday,  May 19 UK's Prince Harry Marries US' (Rachel) Meghan Markel (coverage starts 7am et)
UK CBI May Selling & Order Trends
Sunday,    May 20    OVERNIGHT into US Mon. a.m.et:
        South Korea April PPI
        UK Rightmove May House Prices
        Japan April Trade Balance & Convenience Store & Tokyo Condo Sales
        New Zealand April Credit Card Spending & Q1 Retail Sales
        Hong Kong April CPI
        Bk of Finland & ECB member Liikanen hearing w/Finnish Lawmakers about monetary policy & economic outlook (Helsinki)
        Holidays in Germany & Switzerland
       
Monday,  May 21 Chicago Fed May National Activity Index
Canadian Holiday
FINRA Annual Conference (D.C. thru 23rd)
US Treasury Auctions $48B 3-, & $42B 6-month Bills
Fed's Bostic on "Welfare Economics: Trade & A Review of Principles"  (12:15pm et @Atlanta Economics Club GA)
Fed's Harker speaks w/Q&A @Chief Executives Org,'s CEO Financial Seminar 2018 --Visionary investment:managing Late Cycle Risks & Opportunties (NY 2:15pm et)
Fed's Kashkari w/Q&A @Bay College Town Hall Forum (Escanaba MI 5:30pm et)
    OVERNIGHT into US Tues. a.m. et:
         Japan April Supermarket Sales
         Spain Trade Balance
         UK April Public Finances, Central Gov't NCR, Public Sector Borrowing, CBI May Total Order & Selling Prices Trends
         Holidays in Hong Kong & South Korea (Tues. local time)
Tuesday, May 22 Redbook weekly store sales snapshot
Canada Mar. Wholesale Sales
Russia April Unemployment Rate & Retail Sales
Richmond Fed May Manufacturing Index
US Treasury Auctions $26B 52-week Bills (11:30am) + $33B 2-year Notes (1pm)
   OVERNIGHT into US Wed. a.m. et:
        RBA's Bullock speaks (Amsterdam) + Aussie Apr. Skilled Vacancies, Q1 Construction Work Done
        Japan Nikkei May (P) Manufacturing PMI, March All Industry Activity Index, Apr, Dept Store Sales, (F) Machine Tool Orders
        French Q1 Unemployment Rate
        Markit Eurozone, France, Germany, Italy May (P) Manufacturing, Services & Composite PMI + Consumer Confidence
       RBA's Lowe speaks (Sydney)
       UK Apr. CPI, PPI, Retail Price Index, Halifax House Price Index, Total May Dist. Reported Sales
       Riksbank Gov Ingves & Financial Stabilty Head Sandstedt press conference on financial stability (Stockholom)
       Bk of Spain Gov Linde opens Deloitte-ABC economy event (Madrid)
       The European Business Summit's annual (Egmont Palace Brussels thru 24th)
Wed.       May 23 MBA weekly Mortgage/Refinance Applications
Markit US Flash May Manufacturing, Services + Composite PMI
US April New Home Sales
EIA weekly Petroleum/Gasoline/Distillates Stats
(w/e 05/17)
US Treasury Auctions $16B reopened 2-year FRN Notes (11:30am)
US Treasury Auctions $36B 5-year Notes (1pm et)
FOMC Minutes of May 01--02 Meeting
Fed's Kashkari Q&A on "New Energy Economic Reality" @Williston Basin Petroleum Conference (Bismarck ND 2:15pm)
    OVERNIGHT into US a.m. et:
         New Zealand April Trade Balance
         German Q1 GDP, Apr. Import Price Index, Q1 Gov't Spending, Capital Investment, Private Consumption, Construction Investment, Domestic Demand
         BoJ's Sakurai speaks (Maebashi)
         Japan May Reuters Tankan Index
         Singapore Q1 GDP
        German GfK June Consumer Confidence
        NY Fed's Wm Dudley panelist @BoE's "Reference Rate Reform; Improving the Culture of FICC Markets" @BoE Markets Forum 2018 opened by BoE Gov Mark Carney (London 4:15am et)
        UK Apr Retail Sales & Inflation Report Hearings
        ECB publishes Account of Monetary Policy Meeting April 26th (Frankfurt)
        BoE Gov Carney speaks at London's Society of Professional Economists (London)
Thursday, May 24 US weekly Jobless Applications
Canada Q1 Corporate Profits
FHFA March & Q1 House Price Index  (9am et)
Russian FX Reserves
South Africa Interest Rate Decision (current 6.5%)
Brazil April Current Account & Foreign Direct Investment
NAR April Existing Home Sales  (10am et)
EIA weekly Natural Gas Report
South Korea May Interest Rate Decision
K.C. Fed April Manufacturing Index
Bk of Canada Review published
Treasury Refunding Announcement
US Treasury Auctions $30B 7-year Notes (1pm et  Uh Oh! Duration a problem)
Fed's Harker & Bostic open @Technology-Enabled Disruption (TED): Implications for Business, Labor Markets & Monetary Policy w/Q&A; later in day, Harker on "Broader Labor Market Implications of TED" (Dallas TX 2pm et)
Fed's weekly Balance Sheet & US Money Supply (4:30pm, et)
    OVERNIGHT into US Fri. a.m. et:
        Japan May CPI

        Singapore Q1 GDP, Apr Industrial Production
        OECD Releases Eurozone Economic Forecasts
        Swiss Q1 Industry, Industrial & Construction Output
        German May IFO Business Current Assessment, Expectations, Climate
        UK Q1 (P) GDP, Private Consumption, Gov't Spending, Gross Fixed Capital Formation, Exports/Imports, BBA Apr Loans for House Purchase, Mar. Index of Services
         Italian April Trade Balance
         EU Finance Ministers Meet
         Ireland votes on Abortion Referendum associated with Amendment 8
         Inda FX Reserves, Bank Loan & Deposit Growth
Friday,     May 25 EU GDPR (General Data Protection Regulation) Rules Effective Today
US April Durable Goods Orders/Shipments/Inventories
Fed Chief Powell panelist with BoE's Carney & Riksbank's Liikanen at "Financial Stability & Central Bank Transparency" at Sveriges Riksbank Anniversary Conference: 350 Years of Central Banking--The Past, The Present & the Future (Stockholm 9:20am)
US Revisions to Wholesale Trade & Retail Sales
U.M. (F) May Consumer Sentiment
Fed's Evans, Bostic & Kaplan co-Policymaker Panelists at Dallas Fed "Technology-Enabled Disruption" (11:45am et ) Kaplan also closes the event
Baker-Hughes weekly US/North American Rig Count (1pm et)
Equities Trade Regular Hours to 4pm et
SIFMA controlled markets, ONLY, close early, at 2pm in advance of long weekend
Saturday, May 26
Sunday,   May 27 French Open Tennis Championship starts @Roland Garros Stadium.
Monday,  May 28 US Holiday | Memorial Day

         WEEKS AHEAD:  05/
30   BoC (Canada) MPC Meets
                                  06/12--13  FOMC Meets
                                         06/13    FOMC post-Meeting Statement Released + Updated SEP s(rate hike expected)
                                                     FOMC Chief Powell's 2nd post-Meeting Press Conferernce
                                         06/14    ECB MPC Meets
                                         06/15    BoJ MPC Meets
                                         06/21    BoE MPC Meets
                                                     SNB MPC Meets
                                                     Norges Bank MPC Meets
                                                     Bk of Mexico MPC Meets
                                                
*FOMC 2018 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, 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 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 leaked sensitive FOMC discussions to Medley Advisors. Richmond operated with an Interim Pres, Mark L Mullinix, while searching for a new leader. Dissenters at the Dec. 2017 Meeting, Neel Kashkari & Charles Evans, are no longer voters in 2018. Hawk Mester votes in 2018..