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Softer Start Despite Tame ISM Manufacturing Data
Softer Start Despite Tame ISM Manufacturing Data
The ISM Manufacturing PMI has more potential than most economic reports to cause a reaction in the bond market, even if it isn't perfectly consistent. As today's only big ticket data, it was well positioned to set the tone this morning. While it may not be doing that in a resounding fashion, one could still argue that the weaker result is least helping bonds avoid additional weakness.
Stronger Close After Well-Contained Month-End Volatility
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Jun 02 | |||||
| 9:45AM | May S&P Global Manuf. PMI | May | 52 | 52.3 | 50.2 |
| 10:00AM | May ISM Manufacturing Employment | May | 46.8 | 46.5 | |
| 10:00AM | Apr Construction spending (%) | Apr | -0.4% | 0.3% | -0.5% |
| 10:00AM | May ISM Mfg Prices Paid | May | 69.4 | 70.2 | 69.8 |
| 10:00AM | May ISM Manufacturing PMI | May | 48.5 | 49.5 | 48.7 |
| 10:15AM | Fed Logan Speech | ||||
| 12:45PM | Fed Goolsbee Speech | ||||
| 12:45PM | Fed Goolsbee Speech | ||||
| 1:00PM | Fed Chair Powell Speech | ||||
| Tuesday, Jun 03 | |||||
| 10:00AM | Apr Factory orders mm (%) | Apr | -3.7% | -3% | 3.4% |
| 10:00AM | Apr JOLTs Job Quits (ml) | Apr | 3.194M | 3.332M | |
| 10:00AM | Apr USA JOLTS Job Openings (ml) | Apr | 7.391M | 7.10M | 7.192M |
| 10:10AM | Jun IBD economic optimism | Jun | 49.2 | 49.1 | 47.9 |
| 12:45PM | Fed Goolsbee Speech | ||||
| 1:00PM | Fed Cook Speech | ||||
| 3:30PM | Fed Logan Speech | ||||
| 4:30PM | May Total Vehicle Sales (ml) | May | 15.65M | 16.3M | 17.25M |
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