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 |
|---|---|---|---|---|---|
| Tuesday, Jul 01 | |||||
| 9:30AM | Fed Chair Powell Speech | ||||
| 9:45AM | Jun S&P Global Manuf. PMI | Jun | 52.9 | 52 | 52 |
| 10:00AM | Jun ISM Manufacturing Employment | Jun | 45.0 | 47 | 46.8 |
| 10:00AM | May Construction spending (%) | May | -0.3% | -0.2% | -0.4% |
| 10:00AM | May JOLTs Job Quits (ml) | May | 3.293M | 3.194M | |
| 10:00AM | May USA JOLTS Job Openings (ml) | May | 7.769M | 7.3M | 7.391M |
| 10:00AM | Jun ISM Mfg Prices Paid | Jun | 69.7 | 69 | 69.4 |
| 10:00AM | Jun ISM Manufacturing PMI | Jun | 49.0 | 48.8 | 48.5 |
| 10:10AM | Jul IBD economic optimism | Jul | 48.6 | 50.1 | 49.2 |
| Wednesday, Jul 02 | |||||
| 7:00AM | Jun/27 MBA Purchase Index | Jun/27 | 165.2 | ||
| 7:00AM | Jun/27 MBA Refi Index | Jun/27 | 713.4 | ||
| 7:30AM | Jun Challenger layoffs (k) | Jun | 93.816K | ||
| 8:15AM | Jun ADP jobs (k) | Jun | 95K | 37K | |
| 10:00AM | Jun Total Vehicle Sales (ml) | Jun | 15.5M | 15.65M | |
| 10:30AM | Jun/27 Crude Oil Inventory (ml) | Jun/27 | -2.26M | -5.836M | |
