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Tuesday Sell-Off Sticking; Warsh and ISM On Deck
Tuesday Sell-Off Sticking; Warsh and ISM On Deck
Bonds have added modestly to Tuesday's big quarter-end sell-off (a phenomenon that has nothing to do with the sorts of fundamental developments that dictate a vast majority of market movement). Thankfully, the random plumbing-related volatility is behind us as we begin the new quarter. Old-school potential volatility awaits. The morning's first order of business will be to see if Warsh says anything interesting at the SINTRA conference. After that, ISM Manufacturing data at 10am is a B+ market mover if it falls far enough from expectations.
Steady Selling All Day
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Wednesday, Jul 01 | |||||
| 5:30AM | Jun Challenger layoffs (k) | Jun | 45.849K | 97.006K | |
| 7:00AM | Jun/26 MBA Purchase Index | Jun/26 | 170.6 | 169.7 | |
| 7:00AM | Jun/26 MBA Refi Index | Jun/26 | 828.7 | 834.2 | |
| 7:00AM | Jun/26 Mortgage Market Index | Jun/26 | 272.2 | 272.1 | |
| 8:15AM | Jun ADP jobs (k) | Jun | 98K | 113K | 122K |
| 9:00AM | Fed Chair Warsh Speech | ||||
| 9:20AM | NY Fed Bill Purchases 1 to 4 months (%) | $6.637 billion | |||
| 9:45AM | Jun S&P Global Manuf. PMI | Jun | 53.9 | 55.7 | 55.1 |
| 10:00AM | Jun ISM Manufacturing Employment | Jun | 49.7 | 48.6 | |
| 10:00AM | May Construction spending (%) | May | 0.1% | 0.2% | 0.4% |
| 10:00AM | Jun ISM Mfg Prices Paid | Jun | 73.0 | 79 | 82.1 |
| 10:00AM | Jun ISM Manufacturing PMI | Jun | 53.3 | 54 | 54.0 |
| 10:30AM | Jun/26 Crude Oil Inventory (ml) | Jun/26 | -3.775M | -5.1M | -6.088M |
| Thursday, Jul 02 | |||||
| 8:30AM | Jun/20 Continued Claims (k) | Jun/20 | 1810K | 1821K | |
| 8:30AM | Jun/27 Jobless Claims (k) | Jun/27 | 220K | 215K | |
| 8:30AM | Jun Participation Rate | Jun | 61.8% | ||
| 8:30AM | Jun Average earnings mm (%) | Jun | 0.3% | 0.3% | |
| 8:30AM | Jun Non Farm Payrolls (k) | Jun | 110K | 172K | |
| 8:30AM | Jun Unemployment rate mm (%) | Jun | 4.3% | 4.3% | |
| 10:00AM | May Factory orders mm (%) | May | -1.8% | 4.8% | |
| 2:00PM | Jun Total Vehicle Sales (ml) | Jun | 16.0M | 16.1M | |
| 2:00PM | Happy 4th!! | ||||
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