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Steady Gains in the PM Hours
Steady Gains in the PM Hours
It's common to see the effects of month/quarter-end trading most prominently in the PM hours and today's quarter-end session was no exception. A glut of bond buying just after 12:30pm got the part started and yields bottomed out just before the 4pm NYSE close. While 4pm is a time that's associated with stocks, it has come to be the larger of the two closing bells for the bond market on month/quarter-end days for a variety of reasons (de-emphasis of CME pit over the years, increased prevalence of ETF trading, large portfolio rebalancing that involves both stock/bond ETFs, thus arguing for one unified closing mark time). From here, econ data should take the wheel although it's always possible to see some new-month positions have an impact on the first day of a new month.
Winning streak Continues
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Jun 30 | |||||
| 9:45AM | Jun Chicago PMI | Jun | 40.4 | 43 | 40.5 |
| 10:00AM | Fed Bostic Speech | ||||
| 1:00PM | Fed Golsbee Speech | ||||
| Tuesday, Jul 01 | |||||
| 9:30AM | Fed Chair Powell Speech | ||||
| 9:45AM | Jun S&P Global Manuf. PMI | Jun | 52 | 52 | |
| 10:00AM | Jun ISM Manufacturing Employment | Jun | 46.8 | ||
| 10:00AM | May Construction spending (%) | May | -0.1% | -0.4% | |
| 10:00AM | May JOLTs Job Quits (ml) | May | 3.194M | ||
| 10:00AM | May USA JOLTS Job Openings (ml) | May | 7.3M | 7.391M | |
| 10:00AM | Jun ISM Mfg Prices Paid | Jun | 69 | 69.4 | |
| 10:00AM | Jun ISM Manufacturing PMI | Jun | 48.8 | 48.5 | |
| 10:10AM | Jul IBD economic optimism | Jul | 50.1 | 49.2 | |
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