New Month Selling Trumps ISM Data
New Month Selling Trumps ISM Data
It's not that this morning's ISM data failed to help the bond market. In fact, it accounted for the highest volume of the day and the lowest yields of the day. But those yields were seized as an opportunity for seller to do what they'd already showed up to do earlier in the day. Bottom line, we had a bit of excess strength at the end of last week due to month-end trading and now a bit of a reversal as the new month gets underway. Yields are still nearer the lower end of the recent range, which makes today's modest correction all the less threatening.
New Month Selling Trumps ISM Data
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| 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 |
| Wednesday, Jun 04 | |||||
| 7:00AM | May/30 MBA Refi Index | May/30 | 611.8 | 634.1 | |
| 7:00AM | May/30 MBA Purchase Index | May/30 | 155 | 162.1 | |
| 8:15AM | May ADP jobs (k) | May | 37K | 115K | 62K |
| 8:30AM | Fed Bostic Speech | ||||
| 9:45AM | May S&P Global Composite PMI | May | 53 | 52.1 | 50.6 |
| 9:45AM | May S&P Global Services PMI | May | 53.7 | 52.3 | 50.8 |
| 10:00AM | May ISM Services Prices | May | 68.7 | 65.1 | |
| 10:00AM | May ISM Services Employment | May | 50.7 | 49.0 | |
| 10:00AM | May ISM Biz Activity | May | 50.0 | 53.7 | |
| 10:00AM | May ISM N-Mfg PMI | May | 49.9 | 52 | 51.6 |
| 10:30AM | May/30 Crude Oil Inventory (ml) | May/30 | -4.304M | -0.9M | -2.795M |
| 1:00PM | Fed Cook Speech | ||||
| 2:00PM | Fed Beige Book | ||||
