wall street in advance

May/June 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 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
US Libertarian Party Convention (Orlando FL thru 30th)
Canadian PM Trudeau speaks at Liberal Party Annual Convention (Winnipeg, Manitoba)
Spain PM Rajoy speaks at Catalan business lobby Annual Conf. (Barcelona)
So. Africa Pres. Zuma's future  discussed Ruling African Nat'l Congress (Thru 29th)
NBC TV (CMCSA) Finally broadcasts some French Open Tennis Play
Real Madrid vs Club Atletico de Madrid UEFA Champions League Soccer Final
Sunday,        May 29 US Memorial Day Weekend
German Chancellor Merkel & French Pres. Hollande commemorate the 100th Anniversary of the Battle of Verdun with speeches by both, EC Pres Juncker guest
100th Running of the Indy 500 (12:19pm race time for 200 lap contest)
Iran's Parliament picks the assembly's speaker w/Rouhani hoping Reza Aref wins
     OVERNIGHT into US Mon. a.m .et:
           UK May Nationwide House Prices

           So. Korea Jun. BSI Manufacturing Index
           Japan April Retail Trade
           Aussie HIA April New Home Sales, Q1 Biz Inventories, & Corp. Operating Profit
           Q1 French GDP & Apr. Consumer Spending
           Spanish May HICP
           Italian Apr. PPI
           German Apr. Import Price Index
           Eurozone May Economic, Consumer & Industrial Confidence 
           Fed's Bullard
speaks @Bk of Korea International Conference (20:35 et)
   
Monday,      May 30 US Markets are closed for Memorial Day
UK Markets Closed
German May CPI & HICP
German FinMin Schaeuble speaks on sustainable public finances (Berlin)
Israel's Coalition Gov't to be sworn in
Canada Q1 Current Account, Apr. Industrial Produce & Raw Materials Price Indices
    OVERNIGHT into US Tues. a.m. et:
         New Zealand Apr Building Permits, ANZ May Activity Outlook
         Japan Apr. Jobless Rate, Household Spending, Industrial Production
         Aussie Q1 Current Account Balance, Apr Building Approvals, Private Sector Credit
         So. Africa Apr. M3 Money Supply & Private Sector Credit
         German Apr Import Price Index & Retail Sales
         Spanish Mar. Current Account
         Japan Apr Vehicle Production, Housing Starts, Construction Orders
         German May Unemployment Rate/Change
         Italian Apr. Unemployment Rate, May CPI & HICP + Q1 GDP
         Hong Kong April Retail Sales & M3 Money Supply
         Bk of Italy Gov Visco releases Annual Report
         Eurozone April Unemployment Rate, May CPI
       
Tuesday,       May 31 April US Personal Income/Expenditures+ PCE
S&P Case Shiller March Home Price Index
May Chicago PMI
Conference Board's May Consumer Confidence
7th Clean Energy Ministerial (CEM7) w/US Enerngy Sec'y Munoz & energy ministers from 20 countries (San Francisco, follows Paris Climate Change talks last Dec.)
Brookings Institution panelists include UAE Ambassador to US Al Otaiba (9:30am et D.C.)
Dallas Fed May Manufacturing Survey + PCE
US Treasury Auctions $40B 4-wk Bills, $31B 3-, & $26B 6-month Bills
Russian Economy Minister Ulyukayev visits Munich & Stuttgart (thru 06/01)
USDA Farm Prices
India Q4 GDP/Annualized
So. Africa Apr. Trade balance
Canada Mar.+ Q1  GDP
Russian Anti-monopoly authorities discuss fines on Google (5pm et)
Brazil April Budget Balance & Debt:GDP Ratio
So. Korea May CPI & Aprl Current Account
    OVERNIGHT into US Wed. a.m. et:
         New Zealand Q1 Terms of Trade Index
         So. Korea May Trade Balance (Imports/Exports)
         UK BRC May Shop Price Index
         Aussie Q1 GDP &  May Performance of Manufacturing
         Japan Q1 Capital Spending, Corp. Sales/Profits, April Loans & Discounts, CoreLogic RP May House Price Data, Nikkei May Final Manufacturing PMI, May Vehicle Sales & Official Reserves
         New Zealand QV May House Prices
         Chinese May Manufacturing & Non-Manufacturing PMI +Caixin Version
         Aussie Q1 GDP & May RBA Commodity Index
         India Nikkei May Manfuacturing PMI
         Swiss Q1 GDP, April Retail Sales, & SVME May PMI
         Markit French, Italian, German May Manufacturing PMI
         UK BoE Apr. Net Consumer Credit, Net Lending on Dwellings, Mortgage Approvals, Nationwide May HPI,  M4 Money Supply +Markit May Manufacutring PMI
         Russia May Markit Manufacturing PMI
         OECD EU Economic Outlook
Wednesday, June 01 US May Motor Vehicle Sales (OR THURSDAY???)
ADP May Employment Report
Fed's Beige Book (2pm et)
MBA weekly Mortgage/Refinance Applications
US Markit May Manufacturing PMI
US May ISM Manufacturing Index/Prices Paid/New Orders
US April Construciton Spending
Brazil Q1 GDP & Markit May Manufacturing PMI
Canada RBC Canadian Manufacturing PMI
    OVERNIGHT into US Thurs. a.m. et:
         Japan May Monetary Base
         Aussie April Trade Balance (Imports/Exports) & Retail Sales
         BoJ's Sato speaks (Kushiro)
         Japan May Consumer Confidence Index & Manfuacturing PMI
         So. Korea Q1 GDP
         Russia Centra Bank Reserves
         UK Markit/CIPS May Construction PMI
         Eurozone April PPI
Thursday,     June 02 Fed Gov. Powell keynote on "A Perspective on the State of Prudential Regulation: opens @SIFMA Prudential Regulation Conference (D.C.)
OPEC 169th (Ordinary) Meeting (Vienna Austria)
Alphabet Exec Chair Eric Schmidt moderated by Charlie Rose @Economic Club of NY
Challenger May US Job-Cuts
US weekly Jobless Claims
May Chain Store Sales (9 still report)
ECB MPC Interest Rate Decision /Deposit Facility Rate, June QE Target (Viena)
EIA weekly Natural Gas Report (10:30am et)
EIA weekly Petroleum Report (11am et delayed by Mon. holiday)
UK PM Cameron discusses Britain-EU answering journalist & public's questions (Sky News TV 1500 EDT)
Dallas Fed's Kaplan speaks @ Carroll School of Management @Boston College
US Treasury Refunding Announcement
Brazil Apr. Industrial Production
Singapore May Manufaturing PMI
Fed's Kaplan Q&A @Babson College (Boston MA 1pm et)
Weekly Fed Balance Sheet & US Money Supply
    OVERNIGHT into US Fri. a.m. et:
         Wroclaw Global Forum w/NATO, Polish Central Bk Pres Belka (Thru 06/03)
         New Zealand Q1 Value of All Buildings & May ANZ Commodity PRice
         Aussie May AIG Performance of Service Index
         China Caixin May PMI Services/Composite PMI
         Russia Markit May Services PMI
         Hong Kong May Manufacturing PMI
         Japan Nikkei May Services/Composite PMI
         South Africa Standard Bank May PMI
         Markit Eurozone, Italy, France, Germany May (F) Services/Composite PMI
         UK Markit/CIPS Services PMI
         Eurozone Apr Retail sales
         Chico Fed's Evans discussion of monetary policy divergence between FOMC/ECB and the future of positive rates, with media @Global Interdependence Center Central Banking Series Event (London 3:45am et)
         Swedish Central Bk Gov. Ingves opens, Cleveland Fed's Mester speaks on financial stability @Sveriges Riksbank Conference: "Rethinking the Central Bank's Mandate" Dep'y Gov Jansson speech "From 500 per cent interest rate to negative interest rate. Just how effective is monetary policy and what risks does it give rise to?" (Stockholm thru 06/04)
Friday,         June 03 US May Unemployment Report/Avg Hourly Earnings/Participation (+160k jobs expected)
Fed Gov. Brainard on economic outlook & monetary policy @Council on Foreign Relations (D.C.)
US April Int'l Trade Deficit
US May PMI Services Index
US April Factory Orders
April (F) Durables Good Orders/Shipments
US May ISM Services Index
Baker-Hughes US/No. Am. Rig Count (1pm et)
Sec'y of State Kerry & Foreign Minister from 20 Nations meet to discuss Israeli-Palenstinian peace process (Paris France)
UK Justice Secy Gove, a supporter of exiting the UE, makes his case on Sky TV (15:300 et)
Canada Q1 Labor Productivity, Apr. Int'l Merchandise Trade Balance
Markit Brazil May Services/Composite PMI
15th ShangriLa Dialogue opens with keynote from Thai PM Chan-Ocha, South China Sea dispute likely to dominate (Singapore)
Saturday      June 04 Fed's Mester panelist "Links between Macro Stability & Financial Stability" @Riksbank Conference "Rethinking the Central Bank's Mandate"
Hong Kong hosts a Commemoration of the 1989 Tiananmen Square massacre, an obvious provocation to Chinese leaders (6pm et Hong Kong
BoC Gov Poloz lectures at Canadian Economics Association +Presser (Ottawa)

       WEEKS AHEAD:    06/06   FOMC Chief Yellen
speaks @World Affairs Council of Philadelphia
                                             06/07       ECB publishes 2016 convergence report
                                                            RBA (Aussie) MPC Rate Decision
                                             06/08      Reserve Bk of New Zealand MPC Statement on Rate Decision
                                                             Canada FinMin Morneau keynote @The Economic Summit on Innovation
                                             06/09      ECB Chief Draghi speaks @Brussels Economic Forum 2016
                                                           BoC's Poloz & Sr Dep'y Gov Wikins press conference after release of Financial Systems Review
                                        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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