wall street in advance

May 2016 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 15 UK Rightmove May House Prices
Japan Corporate Goods April Price Index + March Loans & Discounts, & April (P) Machine Tool Orders
South Korea April Trade Balance (Imports/Exports)
    OVERNIGHT into US Mon. a.m. et:
         India April WPI Food, Fuel, & Manufacturing Inflation
Monday,    May 16 NY Fed Empire State Manufacturing Survey
NAHB May Housing Market Index
Treasury Auctions $31B 3-, & $26B 6-month Bills
US March TICs
BoC releases Biannual Publication on Economy & Central Bank
Fed's (#TBTF) Kashkari Town Hall meeting on "Ending Too Big to Fail" Former FOMC Chief Dr. Bernanke participates in panel "Enhancements/Alternatives to DFA Resolution" @MN Fed's "Ending Too Big To Fail" event (7pm Minneapolis)
    OVERNIGHT into US Tues. a.m. et:
          RBA May Mtg Minutes
(Tues local time), April Aussie Motor Vehicle Sales
          RBNZ (New Zealand) 2-yr Inflation Expectation
          Singapore APril Non-Oil Exports
          Japan Mar. (F) Industrial Production/Capacity Utilization
          Swiss April PPI
          Italian Mar. Trade Balance
          UK April CPI & Retail Price Index + PPI, & DCLG Mar. House Prices
          Eurozone Mar. Trade Balance
Tuesday,    May 17 US April CPI
US April Housing Starts/Building Permits
April US Industrial Production/Capacity Utilization
16Q1 eCommerce Sales

S.F. Fed's Williams & Atlanta Fed's Lockhart speak @Politico Event (noon et D.C.)
Dallas Fed's Kaplan Q&A & Media Briefing (Midland TX 1:15pm)
ECB Economist Praet panelist "Towards a cumulative impact assessment--Have the reforms been coherent, efficient & effetive in reaching policy objectives?" (ECB Brussels)
ECB's Nouy at "The Present & the Future of the Banking Sector" hosted by Portuguese Banking Ass'n & TVI (Lisbon)
Canada March Manufacturing Shipments
Redbook weekly Sales Snapshot
Kentucky Dem Primary, Oregon Primaries
     OVERNIGHT into US Wed. a.m. et:

          New Zealand Q1 PPI
          Japan 16Q1 (P) GDP, Deflator, CapEx, Private Consumption, Business Spending
          RBNZ Gov. Wheeler speaks (Hamilton NZ)
          RBA's Debelle speaks @RMB FX Forum
          China April Property Prices
          Aussie 16Q1 Wage Cost Index
          South Africa Apr. CPI
          UK April Unemployment Claimant Count/Change/Rate, Mar. Avg weekly Earnings, ILO Qtr Unemployment Rate
           Eurozone Apr. CPI
Wednesday, May 18 FOMC Minutes of April 26-27 Meeting  (2pm et)
MBA Mortgage/Refinance Apps
EIA
weekly Petroleum Stats
Atlanta Fed Business Inflation Expectations
ECB Governing Council meeting (not on rates-no PR expected)
Norges Bank Gov Olsen lecture "Monetary Policy then & now" (Stavanger Norway)
Norges Bk Investment Mngmnt Chief Slyngstad lecture "Oil fund--savings for future generations" (Stavanger Norwar)
South Africa Mar. Retail Sales
Canada Mar. Int'l Securities Transactions
    OVERNIGHT into US Thurs. a.m. et;
         South Korea Apr PPI
         Japan Q1 Housing Loans, Mar. Machine Orders +Apr. (F) Machine Tool Orders + Mar. All Industry Activity Index
         Aussie Apr. Unemployment Rate/Change/Participation Rate
         RBA April FX Transactions
         French Q1 Unemployment Rate
         Eurozone Mar. Current Account
         UK Apr. Retail Sales
, Mar. Construction Output
         China MNI May Business Indicator
Thursday,   May 19 Weekly US Jobless Claims
NY Fed's Wm Dudley
monthly report/briefing "U.S. Economy in a Snapshot" (NY)
Fed Gov. Fischer on "Interest & Prices--Patinkin & Woodford @NY Fed Reserve Bank Conference in honor of Michael Woodford's Contributions to Economics (9:15am et)
Philly Fed Business Outlook Survey
Chicago Fed Nat'l Activity Index
EIA weekly Natural Gas Report
US Treasury Refunding Announcement (11am et)
US Treasury Auctions Reopend $11B 10-year TIPS (1pm et)
Bk of Slovenia--IMF High Level Seminar on "Rethinking Monetary-Fiscal Policy Coordination" w/speakers: Slovenia Gov Jazbec, Nat'l Bk of Belgium Gov Mets, Bk of latvia Gov Rimsevices, IMF Dep'y Dir Ariccia, Danmarks Nationalbank Gov Rohde (to May 20th Portoroz)
Weekly US Fed Balance Sheet & Money Supply
ECB Minutes of May MPC Meeting
Canada Mar. Wholesale Sales
South Africa Interest Rate Decision
    OVERNIGHT into US Fri. a.m. et:
         New Zealand April Credit Card Spending
         Swiss April M3
         UK CBI May Total Orders & Selling Trends
         German Apr. PPI
         Eurozone Mar. Current Account & Net Investment Flow
         G7 FinMins & Central Bank Chiefs Meet (Sendai Japan thru 21st--Fri Local time)
Friday,        May 20 NAR April Existing Home Sales
Fed Gov Tarullo
on "Insurance Company Supervision & Regulation" @NAIC Int'l Insurance Forum (D.C. 9am et)
Baker-Hughes weekly US/North America Rig Count
(1pm et)
Canada Mar. Retail Sales, Apr. CPI, +BoC Aprl Core CPI
Saturday       May 21 G7 FinMin Meeting Wraps with Press Conference
Pres. Obama leaves for Asian tour that includes G7 Heads of State Meeting & Vietnam
Sunday,        May 22     OVERNIGHT into US Mon. a.m. et;
          Japan April Merchandise Trade Balance
, March All Industry Activity Report + May Manfuacturing PMI
          BoJ's Dep'y Gov. Nakaso speaks in Tokyo + Cabinet office Monthly Economic Report for May
          Markit France, Germany, & Eurozone PMI May (P) Manufacturing & Services/Composite PMI
          Hong Kong Apr. CPI
          Russia Apr Unemployment Rate
          Swiss M3 Money Supply
          St.Louis Fed's Bullard Beijing City Lecture on U.S. Economy & Monetary Policy @Official Monetary & Financial Institution Forum (Beijing China)(5:30am et)
Monday,       May 23 S.F. Fed's Williams speaks on evolving challenges & approaches to monetary policy w/media availability @Council on Foreign Relations  (NY 8am est)
Markit US PMI Flash May Manufacturing Index
US Treasury Auctions $31B 3- & $26B 6-month Bills
Canada Holiday (Victoria Day)
     OVERNIGHT into US Tues. a.m. et:
          "An Evening with Federal Reserve Bk of Philly's Harker" on US Eco Outlook @Philly Council for Business Economics + Q&A (6:30pm est)
           Japan Nikkei May (P) PMI Manufacturing
           RBA's Stevens speaks in Sydney
           Swiss April Trade Balance
           German Q1 (F) GDP, Capital Invsetment, Private Consumption, Gov't Spending
           ECB's Praet speaks at NABE/OECD Symposium (Paris France)
           UK Central Gov't Apr. NCR, Public Finances & Net Borrowing
           Eurozone & German ZEW Surveys of May Economic Sentiment
           UK May CBI Trades Survey & May Retail Reported Sales
           FDIC Vice Chair Hoenig speaks @NABE/OECD Int'l Symposium (Paris)
Tuesday,       May 24 US April New Home Sales
Richmond Fed Manufacturing Index
Redbook weekly Store Sales Snapshot
US Treasury Auctions $20B 52-wk Bills (11:30am est) & $26B 2-yr Notes (1pm est)
IFF Spring Meeting w/speakers ECB's Praet & Nouy, Single Resolution Bd vchief Konig and much more  (thru 25th Madrid Spain)
Washington State Republican Primary
Eurogroup Meets (Brussels)
Bk of Spain Gov. Linde opens the Jt Seminar on Islamic Finance "The Real Economy & the Financiel Sector" organized by the ISlamic financial Services Board & the IE Business School (madrid)
    OVERNIGHT into US Wed. a.m. et:
          New Zealand April Trade Balance
          Singapore Q1 GDP
          Aussie Q1 Construction Completed, & Apri. Skilled Vacancies
          BoE's Gracie speak @IFF Conference (Madrid Spain)
          Swiss May ZEW Survey of (May Expectations
          German Apr. Import Price Index + May IFO Business Climate/Expectations
          Spanish April PPI
          Italy New Mar. Industrial Orders/Sales + Trade Balance
          ECB VP Consotancio speaks (London)
Wed.            May 25 MBA Mortgage/Refinance Applications
April US Int'l Trade Deficit
FHFA March House Price Index

PMI US Services Flash Index
EIA weekly Petroleum Stats
Fed's Kaplan at moderated Q&A Greater Houston Partnership Though Leader Series (Houston 1pm)
EU Finance Ministers Meet (Brussels)
US Treasury Auctions Reopened $13B 2-year FRN Notes & $34B 5-year Notes
Bk of Canada MPC Rate Decision
Fed's Kashkari speaks on Energy & Monetary Policy (ND)
    OVERNIGHT into US Thurs. a.m. et:
         Japan Apr. Corporate Service Price + Reuters May Tankan Index
         South Korea June Manufacturing BSI Index
         Swiss Swift Global April Payments to China
         Aussie Q1 Private Capital + Building Expenditures
         New Zealand Budget Balance & Economic Forecast
         Singapore April Industrial Production
         Spain Q1 GDP
         Italy Mar. Retail Sales
         Hong Kong April Imports/Exports
         ECB's Praet, Nuoy, Vileroy & Linde speak @IFF (Madrid)
         Swiss Q1 Industrial Production & Industry Output
         South Africa April PPI
         UK (P) Q1 GDP, Private Consumption, Gov't Spending, Gross Capital Formation, Exports/Imports, Q1 Total Business Investment, Mar Index of Services, BBA Apr. Loans for House Purchases
          G7 Heads of State Meeting (Ise-Shimi Japan thru 27th)
          US Fed's Bullard speaks on economy & monetary policy/mingles with press @Official Monetary & Financial Institution Forum  (5:15am Singapore)
Thursday,     May 26 US April Durable Goods Orders/Shipments
US weekly Jobless Claims
NAR April Pending Home Sales
Global Code of Conduct (Code) for the Foreign Exchange Market, Phase 1, will be published, by FXWG--the Foreign Exchange Working Group, following meeting of the Global Foreign Exchange Committees (NY)
EIA weekly Natural Gas Report (Rigs were flat last week)
K.C. Fed Manufacturing Index
Fed Gov. Powell speaks on "Recent Economic Developments, the productive Potential of the Econmy, and Monetary Policy @Peterson Institute (D.C. 12:15pm est)
US Treasury Auctions $28B 7-year Notes (1pm est)
Fed weekly Balance Sheet & US Money Supply
RBA's Debelle make opening remarks @NY Press Conference
    OVERNIGHT into US Fri. a.m. et:
         UK GfK May Consumer Confidence Survey
         Japan Apr. CPI
         Swiss Q1 Employment Rate
         China April Industrial Profits
         German & Spanish April Retail Sales
Friday,          May 27 US 1Q16 Prelim (2nd guess) GDP includes Q1 pce
US 1Q16 Corporate Profits

U.M. May Consumer Sentiment
FOMC Chief Janet Yellen accepts an award from the Redcliffe Institute for Advance Study @Harvard University & speaks with Prof. Mankiw on "Building an Econonmy for Prosperity & Equality" (Cambridge MA 10:30am et)
Baker-Hughes weekly US/North America Rig Count (1pm et)
Last US Trading Day until Tuesday
G7 Heads of State Wrap in Japan
Saturday,     May 28 US Memorial Day Weekend
Sunday,        May 29 US Memorial Day Weekend.
Monday,      May 30 US Markets are closed for Memorial Day
Fed's Bullard
speaks @Bk of Korea International Conference

       WEEKS AHEAD: 
06/01    Fed's Beige Book
                                   06/14-15    FOMC Meets, Updates Forecasts, Yellen Press Conference
                                       06/16    BoE Meets
                                                     SNB (Suisse) Meets
                                                    BoJ Meets

*FOMC 2016 Voting Members:  Five governors on the FOMC are permanent voters: Janet Yellen, Stanley Fischer, Lael Brainard, Jay Powell and Dan Tarullo.vote at every meeting. (Board Governors endure 2 vacancies that Senate refuses to confirm). Like the NY Fed pres. is, also, a permanent FOMC voting member. The rest of the voters, in 2016, are 5 of the 11 regional Fed Pres.: Loretta Mester (Cleveland), Eric Rosengren (Boston), James Bullard (St. Louis) and Esther George (Kansas City). Mester, George and Bullard are hawks, while Rosengren is considered a dove. Evans, Lockhart, Williams, and Lacker were 2015 voters, now off the voting panel at 2016 FOMC meetings. Neel Kashkari, former TARP overseer, took over Presidency of the Minneapolis Federal Reserve Bank, replacing Kocherlakota, who wound up a short-lived leader. Kashkari won't vote in 2016 but will stick to his "Too Big .to Fail" mantra on banks
                     

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