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Weaker Start as War News Cycle Shifts
Weaker Start as War News Cycle Shifts
Last week's focus for war-related headlines involved various attempts to hone in on just how close we were to a confirmed preliminary peace deal. The results were predictable with bonds moving to their lowest yields in weeks. The shoe is very much on the other foot to start the new week with headlines saying Iran is pulling out of peace talks until the Israel/Lebanon fighting ends. In addition, the IRGC is said to be taking control of diplomacy and threatening to re-block the strait. With that, 10yr yields jumped back up near the highest levels in over a week and MBS dropped a quick 3/8ths of a point.
Markets Skeptical of Today's Peace Deal News
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Jun 01 | |||||
| 9:45AM | May S&P Global Manuf. PMI | May | 55.1 | 55.3 | 54.5 |
| 10:00AM | May ISM Mfg Prices Paid | May | 82.1 | 85.5 | 84.6 |
| 10:00AM | May ISM Manufacturing PMI | May | 54.0 | 53 | 52.7 |
| 10:00AM | May ISM Manufacturing Employment | May | 48.6 | 46.4 | |
| 10:00AM | Apr Construction spending (%) | Apr | 0.4% | 0.2% | 0.6% |
| Tuesday, Jun 02 | |||||
| 1:50AM | Fed Kashkari Speech | ||||
| 8:30AM | Fed Hammack Speech | ||||
| 10:00AM | Apr JOLTs Job Quits (ml) | Apr | 3.171M | ||
| 10:00AM | Apr USA JOLTS Job Openings (ml) | Apr | 6.82M | 6.866M | |
| 10:10AM | Jun IBD economic optimism | Jun | 42.6 | ||
| 11:30AM | 6-Week Bill Auction (%) | 3.620% | |||
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