wall street in advance

May/June 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,    May 20    OVERNIGHT into US Mon. a.m.et:
        South Korea April PPI
        UK Rightmove House Price Index
        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)
        UK Rightmove House Price Index
        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. (Paris)
BoE MPC member Tenreyro panelist (Stockholm)
Bk of Spain Gov. Linde introduces Bk of Portugal Gov. Carlos da Silva
    OVERNIGHT into US Mon. a.m. et:
        Japan Corporate Services Price Index

        German April Retail Sales, Import/Export Prices
        China April Industrial Profits
        Swiss Q1 Employment Level
        Italy April PPI
        Hong Kong April Trade Balance
Monday, May 28 All Markets Closed in US & UK for (separate) National Holidays
Brazil April Bank Lending
    OVERNIGHT into US Tues. a.m. et:
         Fed's Bullard on US Eco & Monetary Policy Japan Center for Int'l Finance's Global Finance Seminar w/Q&A ( 12:40am Tokyo)
         Japan April Jobless Rate
         UK Nationwide Home Price Index
         Swiss April Trade Balance (Exports/Imports), Swiss Watch Exports
         Eurozone April M3 Money Supply & Private Sector Loans
         ECB's Mersch keynotes on "The Continental Perspective," @ Frankfurt Finance Summit, organized by Frankfurt Main Finance "Ready, Steady, Go! Who is ready to set the pace in challenging times?" (05/29 local time)
         Riksbank Dpty Gov Ohlsson on current eco policy challenges (Orebro Univ Sweden)
         ECB's Lautenschlager on monetary policy (Frankfurt)
Tuesday,  May 29 Brazil May Unemployment Rate
Case-Shiller March Home Price Index   (9am)
Conference Board's May Consumer Confidence (10am)
Dallas Fed Manufacturing Survey
US Treasury Auctions $48B 3-, & $42B 6-month Bills (11:30am)
US Treasury Auctions  $40B  4-wk at 1pm)
Singapore Hoiday 
    OVERNIGHT into US Wed. a.m. et:
         V.P. Constancio Leaves ECB as his Term Expired

         RBNZ (New Zealand) Publishes Financial Stability Report + May Bldg Permits
         UK BRC May Shop Price Index + Nationwide Home Price Index
         Japan April Retail Trade, May Consumer Confidence
         South Africa Private Sector Credit + April M3
         Aussie April Building Approvals
         Spain May CPI, HICP, & Retail Sales
         French 18Q1 (P) GDP
         German May Unemployment Claims/Change, & CPI & HICP
         Swiss May ZEW Conditions/Expectations + SNB Chair Jordan's "Innovation & Entrepreneurship: Success Factors in a Changing Economic World," Award Ceremony De Vigier Foundation
         BoJ Gov Kuroda @2018 BoJ/IMES Monetary Plicy in a Post-Financial Crisis Era Conference (Tokyo)
         BoE Macro-Finance Workshop 2018 (to May 31st Tokyo)
         Eurozone May Business, Industrial, Services +Consumer Economic Confidence
Wed.,       May 30 MBA weekly Mortgage/Refinance Applications
ADP May Private Sector Employment Report
Brazil Q1 GDP & FX Flows
US 18Q1 GDP/Domestic Price Index/PCE
Canada 18Q1 Currenrt Account Balance, April Industrial (IPPI)  & Raw Materials Price (RMPI) Indices
US April International Trade Deficit
Brazil April Budget Balance & FX Flows
SNB's Jordan speaks (Solothurn)
US Q1 Corporate Profits
US April (Adv) Retail & Wholesale Inventories
Federal Reserve Board meets to Discuss Changes to the Volcker Rule
WorldBank Group 8th Global Housing Finance Conference (D.C. thru 06/01)
Redbook weekly store sales snapshot
Bk of Canada MPC Rate Decision & post-Meeting Statement (Ottawa)
Dallas Fed May Services Revenues
Federal Reserve Releases Beige Book  (2pm et)
USDA Farm Prices  (3pm et)
    OVERNIGHT into US Thurs. a.m. et:
         South Korea Jun. Manufacturing BSI Index, April Industrial & Service Sector Production
         UK GfK May Consumer Confidence+Llpoyds Business Barometer
         Japan April Industrial Production & Forecast
         Canada CFIB May Business Barometer
         New Zealand May ANZ Activity Outlook, Business Confidence
         China May Manufacturing/Non-Manufacturing/Composite PMI, + Swift April Global Payments
        Aussie Q1 Private CapEx & April Credit
        Singapore April Bank Lending
        Japan April Vehicle Production, Housing Starts, Construction Orders
        Swiss Q1 GDP, SNB Survey Results on Payment Methods Presented by VP Zurbruegg, & April Retail Sales
        UK April Net Consumer Credit, Lending on Dwellings, Mortgage Approvals, M4 April Nationwide May Home Price Index
        German April Retail Sales
        French April CPI, HICP, PPI
        Spain Q1 GDP & March Current Account
        Italy April Unemployment Rate, May CPI & HICP
        Hong Kong April Retail Sales & M3 Money SUpply
        Eurozone April Unemployment Rate, & May (A) CPI
        South Africa April PPI + April Trade Balance
        India Q4 GDP, March Federal Fiscal Deficit
        Canada March + Q1 GDP
        BoE/CEPR Conference on Competition & Regulation in Financial Markets
Thursday, May 31 Challenger May Job-Cuts (7:30am et)
US weekly Jobless Claims
Brazil Corpus Chrsti Holiday
US April Personal Income/Spending/PCE/Savings  (8:30am et)
BoC Dpty Gov Ledue speaks on Economic Progress Report, Canada Q1 GDP
Russian Central Bank Reserves
Chicago May PMI (9:45am et)
NAR April Pending Home Sales
EIA weekly Natural Gas Report
EIA weekly Petroleum/Gasoline/Distillate Reports (w/e 5/25, holiday delayed)
G7 Finance & Development Ministers & Central Bank Governors Meet on "Investing in Growth that Works for Everyone" (Whistler BC Canada to June 2nd)
Fed's Bostic Q&A at Florida Prosperity Partnership 10th Statewide Training   Conference (12:30pm Orlando)
Fed weekly Balance Sheet & US Money Supply (4:30pm)
    OVERNIGHT into US Fri. a.m. et:
         Japan Q1 Company Profits, Capital Spending, April Loans & Discounts, May Official FX Assets
         New Zealand Q1 Terms of Trade
         South Korea Q1 GDP,  May Trade Balance, Nikkei Manufacturing PMI & CPI
         Aussie CoreLogic May House Price Index & May Aig Manufacturing Index & HIA New Home Sales
         Japan Nikkei May (F) Manufacturing PMI, Motor Vehicle Sales & Q1 CapEx
         China Caixan May Manufacturing PMI + the Official Version
         India Nikkei Markit May Manufacturing PMI
         Russia Markit May Manufacturing PMI
         Aussie RBA May Commodity Price Index
         Swiss May Manufacturing PMI-SVME May PMI
         Markit May Eurozone, French, German, Italy, & Spain Manufacturing PMI
         Italy Q1 GDP
         UK Markit May Manufacturing PMI
         South Africa May Total Vehicle Sales
         BoE Economist Haldane lectures (Glasgow Scotland)
Friday,      June 01 US May Motor Vehicle Sales
US May Unemployment Report/Rate/Change/Participation
/Avg Hrly Earnings
Canada RBC May Manufacturing PMI
US May Manufacturing PMI (9:545am et)
US May ISM Manufacturing Index/Prices Paid/New Orders/Employment (10am et)
US April Construction Spending
Baker-Hughes weekly US/North American Rig Count (1pm et)
Brazil May Trade Balance
Saturday, June 02 G7 Meeting in Canada Wraps up

         WEEKS AHEAD:06/12--13 FOMC Meets

                                         06/13    FOMC post-Meeting Statement Released + Updated SEP
                                                     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..
               * HICP used in Europe, means Harmonized Index of Consumer Prices