wall street in advance

May/June 2020  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 24     OVERNIGHT into US Mon. a.m. et:
        Germany Q1 (F) GDP,
IFO Current Conditions/Expectations
        Taiwan Retail Sales & Industrial Production
        Hong Kong April Trade Balance
        New Zealand April Trade Balance
        Japan Corporate Services Price Index, All Industry Activity Index, Core CPI
        Israel Interest Rate Decision
        Singapore Q1 GDP, Trade Balance, Current Account
        Mexico Trade Balance, Current Account
        Brazil Payrolls & BCB Focus Readout
Monday,   May 25 Memorial Day US Holiday ALL US MARKETS CLOSED
Holidays in UK, Singapore & India, too
    OVERNIGHT into US Tues. a.m. et:

        Singapore April Industrial Production, CPI
        German GfK Consumer Confidence
        Swiss Non-Farm Payrolls, Trade Balance (Watch Exports)
        UK CBI Distributive Trades
        BoE Economist Haldane webinar to Confederation of British Industry (aka CBI)
        Mexico GDP
        Hungary MPC Interest & Desposit Rate Decision
Tuesday   May 26 Chicago Fed April National Activity Index
Russia April Payrolls, Wages, Retail Sales
ECB's Lane participant @virtual IIF European Conference: The EU, COVID-19 & the Future of Financial Services  (14:45 cet)
ECB Financial Stability Review published (15:00 cet)
S&P/Case Shiller March Home Price Index
Conference Board's May Consumer Confidence
US April New Home Sales
Dallas Fed Manufacturing Index
US Treasury Auction $63B 3-, & $54B 6-month Bills (11:30am et)
Fed's Neel Kashkari, Lawrence Summers, Tom Brokaw + more  @Living in a COVID-19 World (nnon --3pm cdt)
US Treasury Auctions $65B reopened 42-day Bills & $44B 2-year Notes (1pm et)
Dallas Fed's Kaplan virtual speech @Money Marketeers of NY (5:30pm et)
    OVERNIGHT into US Wed. a.;m. et:
         South Korea June BSI Jun Manufacturing Index
         RBNZ (New Zealand) Financial Stability Report
         Aussie Construction Completed
         China Aprill Industrial Profits
         Swiss ZEW May Expectations
         ECB Chief Lagarde @Dialogue for the European Youth 2020 event (9:30cet)
         ECB's de Guindos at Camara de Comercio de Espana (10:30 cet)
         Mexico Unemployment Rate
         ECB's Enria @virtual IIF European Conference:EU, COVID-19 & Future of Financial Services (13:00 cet)
Wed.        May 27 MBA weekly Mortgage/Refinance Applications
Canada April Building Permits
Redbook weekly store sales snapshot
Richmond Fed May Manufacturing/Services Index & Shipments
Dallas Fed May Services Revenues/Texas Services Sector Outlook
NY Fed's Williams meets with Long Island Gov't, Biz & non-profits
NY Fed hosts "Too Important to Fail: Minority-Owned Businesses Navigating COVID-19 and Beyond (11:15am)
US Treasury Auctions $20B reopened 2-year FRNs & $40B reopened 119-day Bills (11:30am et)
US Treasury Auctions$25B reopened 273 day Bills & $45B 5-year Notes (1pm et)
Fed's Beige Book (2pm et)
St Louis, Atlanta, Richmond, Minneapolis, & San Francisco Fed Jt CDFI webinar Series: Minority-Owned Firms (2pm ct)
API weekly Petroleum stats (delayed by Mon. holiday)
    OVERNIGHT into US Thurs. a.m. et:
        South Korea MPC Interest Rate Decision

        Aussie Q1 Private CapEx , Plant/Machinery CapEx, Building CapEx
        Swiss Balance of Trade
        Eurozone Consumer, Economic, Industrial & Biz Confidence/Inflation Expectations
        French Unemployment Rate/Claims
        Brazil Unemployment Rate
        BoE MPC Saunders speaks
Thurs.      May 28 US weekly Jobless Claims/Continuing Claims (8:30am et)
US Durable Goods/Capital Goods Orders/Shipments
Canada Current Account
US GDP/PCE/Corporate Profits/Prices Paid
NAR April Pending Home Sales

EIA weekly Natural Gas Report (w/e 05/22 10:30am et)
EIA weekly Petroelum/Gasoline/Distillates/Refineries Report (delayed by holiday 11am)
"A (video) Conversation with NY Fed President John Williams" via Stony Brook Univ. College of Business (11am et livestreamed)
Fed's Harker opens webinar "Reinventing Our Communities: Planning for Equity in Recovery--Lessons We're Learning from COVID-19"
US Treasury Auctions 4- & 8-week Bills (value not yet announced)
US Treasury Auctions $38B 7-year Notes (1pm et)
FRB Aggregate Reserves of Depository Institutions (pre-relaxation of rules;4:30pm et)
    OVERNIGHT into US Fri. a.m. et:
        So. Korea Industrial/Manufacturing Production, Construction Output, Retail Sales
        Japan Apr Unemployment Rate, Tokyo CPI, Indsutrial Production, Retail Sales
        Aussie April Private Sector Credit , Housing Credit
        Japan Apr Housing Starts, Construction Orders, May Consumer Confidence
        Singapore April Bank Lending
        German April Retail Sales, Import Prices, May CPI/HI CP/PPI
        South Africa Private Sector Credit
        UK BRC Shop Price Index, Nationwide House Prices, GfK May Consumer Confidence
        France Q1 GDP, Household Consumption, April CPI/HICP, PPI, Jobless Total
        Eurozone Loans to Households & Companies, CPI/HICP
        Italy Q1 GDP & April Trade Balance, CPI/HICP
        India Q4 GDP, April Federal Fiscal Defecit, Fx Reserves
        Taiwan GDP
        UK Auto Production
        ECB publishes National Balance Sheet of Euro Area Monetary Fnancial Institutions ex-Eurosystem (10 cet)
        Eurozone April CPI/HICP, May Business & Consumer Confidence/Expectations
        Brazil Q1 GDP, April PPI
        Canada Q1 GDP, PPI, Raw Materials Prices (RMPI)
Friday,     May 29 US April Int'l Trade Balance
US April Personal Income/Spending/PCE
Canada Q1Corporate Profits
Brazil April Budget Balance
US Wholesale Inventories
May Chicago PMI
A Conversation with Jerome Powell
moderated by alan Blinder @Griswold Ctr for Economic Policy Studies @Princeton University (streamed 11am et)
U.M. Final May Consumer Sentiment/Expectations
Canada Budget Balance
Baker-Hughes weekly US/No. Am Oil/Total Rig Count (1pm etl w/e 05/22)
Saturday, May 30  China May Manufacturing, non-Manufacturing, Composite PMI
Sunday,   May 31     OVERNIGHT into US Mon. a.m. et:
        Aussie AiG & CommBank May Manufacturing PMI
        South Korea May Trade Balance, Nikkei Mnftg PMI
        Jibun Bank May Japan Manufacturing PMI
        Aussie TD Bank Inflation Gauge, Commodity Prices
        Caixin China Mnftg PMI
        India Markit Mnftg PMI
        Russia May Markit Manufacturing PMI
        UK Nationwide Housing Prices
        Spain Tourist Arrivals, New Car Sales
        Eurozone, France, Germany, Italy, Spain Markit May Manufacturing PMI
        Hong Kong Retail Sales
        South Africa ABSA Manufacturing PMI, Total New Vehicle Sales
Monday,  June 01 ECB Holiday--Whit Monday
US Markit May Manufacturing PMI
US May Manufacturing ISM/Employment/Prices Paid/Shipments/New Orders

Canada RBC May Manufacturing PMI
US April Construction Spending
Mexico Markit Manufacturing PMI
Brazil May Trade Balance
US Treasury Auctions $63B 3-, & $54B 6-month Bills
Pentecost Holiday in most of the Western World (ex-US)
    OVERNIGHT into US Tues. a.m. et:
        New Zealand Q1 Trade Balance, Building Permits
        South Korea Q1 (F) GDP, Inflation, May CPI
        Aussie HIA New Home Sales, Q1 Business Inventories, Corporate Profits, Current Account
        RBA (Aussie) MPC June Interest Rate Decision
        Swiss April Retail Sales, procure.ch May Manufacrturing PMI
        French Budget Balance
        Spain Unemployment Rate/Change
        BoE April Consumer Credit, UK Mortgage Approvals/Lending, 10-yr Gilt Auction
        Italy Republic Day
Tuesday, June 02 Redbook weekly store sales snapshot (Big a bounce back? Includes Memorial Weekend)
ISM May New York Conditions Index
US Treasury Auctions $40B reopened 119-Day & $65B reopened 42-day Bills

OEMs start Announcing May US Vehicle Sales (Ex-GM & Ford)
    OVERNIGHT into US Wed. a.m. et:
        Aussie AiG May Construction Index, CommBank Services/Composiste PMI
        Hong Kong May PMI
        Japan Jibun Bank May Services/Composite PMI
        Aussie Q1 GDP/CapEx/GDP Deflator/Consumption, Building Permits/CapEx
        RBA releases Chart Pack
       China Caixin May Services/Composite PMI
       Swiss Q1 GDP
       German May Unemployment Rate/Change
       South Africa May Standard Bank PMI
       Eurozone, France, Germany, Italy, Spain May Markit Services/Composite PMI
       Italy May Unemployment Rate
       UK Markit/CIPS Services/Composite PMI, BRC May Shop Price Index
       ECB publishes Insurance Corporations Assets & Liabilities (10:00 cet)
       Eurozone April Unemployment Rate, PPI
       Wards US May Total Vehicle Sales
       Poland MPC Interest Rate Decision
Wed.       June 03 MBA weekly Mortgage/Refinance Applications
Brazil April Industrial Production
ADP May US Private Sector Employment Data/Change
Canada Q1 Labor Productivity
ECB's Fernandez-Bollo partipates in online debate organized by the Kanaroo Grp (16:30)
Brazil Markit May Services/Composite PMI
Markit US Services/Composite PMI
Bank of Canada MPC Interest Rate Decision
US April Factory Orders
US May non-Manufacturing ISM/Employment/New Orders/Prices

EIA weekly Petroleum/Gasoline/Distillates/Refineries Report (10:30am et; w/e 05/29)
CDFI Symposium Webinar Series: Capitalization (2pm ct--Community Development)
Women on the Rise: Reimagining Equity in Boston Post-COVID-19 (webinar 4pm Boston FRB, rescheduled from March 19th)
    OVERNIGHT into US Thurs. a.m. et:
        Aussie April Trade Balance, Retail Sales
        Japan 30-year JGB Auction. Foreign Bonds & Stocks Purchased, Sold to Foreigners
        Eurozone, France, Germany, Italy, Construction PMI
        UK May New Car Sales, Construction PMI
        Eurozone April Retail Sales

        BoE publishes "External business of Monetary Financial Institutions operating in the UK-2020 Q1" (9:30) 
        BoE's Hauser web speech @Bloomberg, "Seven Minutes in Spring: COVID-19, financial markets and the Bank of England's Operations" (text published at 10:00)
        ECB MPC Deposit & Lending Interest Rate & QE Decision Statement
Thurs,     June 04 Challenger May US Job Cuts (7am et)
ECB Chief Lagarde post-Meeting Press Conference  (14:30 cet)
ECB publishes Eurosystem staff macroeconomic projections for Euro area (15:30 cet)
Canada Trade Balance
US weekly Jobless Claims/Change/Continuing Claims (8:30am et)
US Trade Balance
US Q1 (F) Productivity & Labor Costs (8:45am et)
Brazil Car Production & New Car Registrations
Mexico Fx Reserves
EIA weekly Natural Gas Report (10:30am et; w/e 05/29)
US Treasury Auctions 4-, & 8- week Bills (value not available at post)
    OVERNIGHT into US Fri. a.m. et:
        AiG May Services Index
        UK GfK Consumer Confidence
        Japan April Household Spending, Fx Reserves
        Singapore April Retail Sales
        German April Factory Orders
        Swiss Fx Reserves
        UK Halifax House Price Index
        Mexico Auto Production/Exports,
Gross Fixed Investment
Friday,    June 05 US May Unemployment Rate/Change/Wages/Participation Rate/Gov't & Mnftg Payrolls
Canada May Unemployment Rate/Change/Full-/Part-time/Participation/Wages
Canada Ivey May PMI
St Louis Fed Powerful Teaching, "Unleash the Science of Learning in the Economics Classroom" (webinar 8:30am ct)
Baker-Hughes weekly US/North American OilTotal Rig Count (1pm;  w/e 05/29)
US Consumer Credit (3pm et)
Saturday, June 06
        WEEKS AHEAD:
06/09--10  FOMC Meets
                                      06/10    FOMC Chief Powell Press Conference post-Statement Release

                                      06/16    BoJ MPC Meets
                                      06/17    NY Fed kicks off Term Asset-Backed Securities Loan Facility (TALF)
                                      06/18    BoE MPC Meets
                                                  SNB (Swiss) MPC Meets
                                      06/24     Chicago Fed's Evans speech @Corridor Business Journal Mid-Year Review
                                      06/25    Banco de Mexico MPC meets
                                                  1st TALF Loans Close

*FOMC 2020 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, Richard Clarida, Gov Bowman, (Senate confirmed 09/12/19), plus New York Fed Pres, currently John Williams (Formerly of the San Francisco Fed) who replaced William Dudley, who retired from the bank on June 15, 2018.:New, revolving Regional Fed Bank leaders who are voters for 2020: MN Fed's Kashkari, Dallas Fed's Kaplan, Philly Fed's Harker, Cleveland Fed's Mester. Other Fed Presidents include: Atlanta Fed's 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. San Francisco Fed named Mary Daly Pres/CEO as of 10/1/2018, who was a voter until Feb. 2020, completing her predecessor's term (NY Fed CEO Wiliams). 2019 Hawks dissenting against 2019 rate cuts were K.C. Fed's George, Boston's Rosengren, and St. Louis' Bullard but he wanted a bigger cut, earlier, who was backed by Chicago's Evans.
               * HICP used in Europe, means Harmonized Index of Consumer Prices