wall street in advance

May 2020  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 17     OVERNIGHT into US Mon. a.m. et:
        Japan Q1 GDP
, CapEx, Private Consumption
        Singapore April Trade Balance
        China April House Price Index, Tertiary Industry Index
        Indonesia Motorbike Sales
        UK Rightmove House Price Index
        Ireland Trade Balance
Monday,  May 18 NAHB May Housing Market Index
Canada Victoria Day Holiday
US Treasury Auctions $63B 3-, & $54B 6-month Bills (11:30am et)
    OVERNIGHT into US Tues. a.m. et:
         New Zealand Q1 PPI, April Offshore Holdings
        Aussie Home Loans/Investment Lending for Homes
        RBA (Aussie) Minutes of May MPC Meeting  
        Japan March Industrial Production/Capacity Utilization/Avg Earnings

        EU New Car Registrations, March Construction Output 
        UK Unemployment Report/Change/Avg Earnings, April Car Registrations
        Indonesia MPC Interest Rate Decision, Deposit & Lending Facility Rates
        Hong Kong Unemployment Report/Change
        EU & German, separate, May ZEW Economic Sentiment Indexes/Expectations
        South Africa Feb Gold Production/Mining Production, Manufacturing Production     
        Consolidated Financial Statement of Eurosystem Published (13:00cet)
        ECB's Lane participates in IMFS policy webinar (16:00 cet)
Tuesday,  May 19 US April Housing Starts/Building Permits
Oregon Primary
Redbook weekly store sales snapshot
FOMC Chief Powell testimoy to Senate Banking Cmte on "Coronavirus Aid, Relief & Economic Security (CARES) Act  (10am streamed)
Russia Q1 GDP
US Treasury Auctions $31B 52-week Bills + $40B reopened 119-day +$65B reopened 42-day Bills (11:30am et)
Boston Fed's Rosengren webinar on Economy & Monetary Policy @NewEngland Council (2pm et)
    OVERNIGHT into US Wed. a.m. et:
        Japan May Reuters Tankan Index,
Machinery Orders
        PBoChina Prime Rate for 1-yr, & 5-years Loans
        UK CPI/Core CPI, PPI/Core PPI, Retail Price Index (RPI)
        Thai MPC Interest Rate Decision
        Sweden Financial Stability Report + Capacity Utilizzation
        EU Current Account, CPI/Core CPI, HICP (11:00 cet)
        German Apr PPI
        Taiwan Current Account, Export Orders
        South Africa Retail Sales
        BoE @Treasury Cmte on "The economic impact of coronarivus" (14:30 gmt)
       
Wed.        May 20 MBA weekly Mortgage/Refinance Applications
Canada April CPI/Core CPI, Mar. Wholesale Sales
Brazil Federal Tax Revenues
EIA weekly Petroleum/Gasoline/Distillates/Refineries Report (10:30am et)
US Treasury Auctions 1st $20B 20-year Bonds
FOMC Minutes of April 28/29 Meeting  (2pm et)
    OVERNIGHT into US Thurs. a.m. et:
        Aussie Mnftg/Services/Composite Flash PMIs
        Japan Apr Trade Balance, Investments in Foreign Bonds & Stocks/vice versa
        Ascension Day in many foreign Western Markets (Austria, Belgium, Denmark, Finland, France, Germany, Netherlands, Indonexia, Norway, Switzlerand, & More)
       Japan Jibun Bank May Mnftg/Services/Composite Flash PMIs
       New Zealand Credit Card/Electronic Card Spending
       UK Markit/CIPS Mnftg/Services/Composite Flash PMIs, CBI May Inudstrial Trends/Orders
        ECB's Panetta online conference in Italian (9:35 cet)
Thurs,      May 21 US weekly Jobless Claims/Continuing Claims
Philly Fed May Manufacturing Index/
CapEx/Employment/Prices/New Orders
Canada ADP Employment Change, New Housing Price Index
Russia Industrial Production
South Africa May Interest Rate Decision
US Markit May Flash Mnftg/Service/Composite PMIs
NY Fed's Williams speaks to Buffalo Niagara Partnership, CenterState CEO, & Greater Rochester Chamber of Commerce (10am at register here)
NAR April Existing Home Sales
Fed's Mester
opens Cleveland FRB/ECB "Inflation: Drivers & Dynamics" virtual Conference (Cleveland Fed thru 22nd)
EIA weekly Natural Gas Report
US Treasury Auctions 4-, & 8-week Bills (11:30am et value not announced at post)
FRB V.Chair Clarida "US Economic Outlook & Monetary Policy" @NABE (1pm et NY)
US Treasury Auctions $12B reopened 10-year TIPS mature 01/15/2030 (1pm et)
Fed Chair Powell opens Fed Listens: How is COVID-19 Affecting Your Community? (2:30pm et streamed)
Swiss Holiday-Ascension Day
Eurozone Ascension Day Holiday
    OVERNIGHT into US Fri. a.m. et:
         New Zealand Q1 Retail Sales
         National Peoples Congress (China, thru 27th)
         Japan Apr CPI/Core CPI
         UK Apr Retail Sales. Public Sector Net Borrowing
         Eurozone, France, Germany, Markit Mnftg/Services/Composite PMIs
         Taiwan Unemployment Rate/Change
         ECB Account of Monetary Policy Meeting of April 29--30th (13:30cet)
         Mexico Retail Sales
Friday,     May 22 Canada March Retail Sales
Baker-Hughes US/No. Am. Oil/Nat Gas Rig Count (1pm et)
ECB's Lane speaks @Cleveland Fed Inflation Conference
(16:30 cet)
SIFMA-controlled US Markets Close Early (2pm et)
Equities Trade Until Full Day (4pm et)
Hawaii mail-in Primary Deadline
Saturday, May 23
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)
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
                                                     
        WEEKS AHEAD:
06/02  RBA (Aussie) MPC Meets
                                       06/03   BoC (Canada MPC Meets
                                        06/4    ECB MPC Meets
                                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
                                      06/25    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