Mostly Sideways and Lacking Inspiration
Mostly Sideways and Lacking Inspiration
Tuesday may as well have been a holiday. Volumes were among the lowest for any day in weeks and the lowest for a Tuesday in several months. The economic calendar was effectively empty and news/headlines had no discernible impact. There was token improvement in the AM hours but that merely served to keep yields in an increasingly narrow consolidation pattern that's been underway for over a month.
Mostly Sideways and Lacking Inspiration
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Jun 23 | |||||
| 8:15AM | ADP Employment Change Weekly | 30.75K | 25.5K | ||
| 9:45AM | Jun S&P Global Manuf. PMI | Jun | 55.7 | 54.8 | 55.1 |
| 9:45AM | Jun S&P Global Composite PMI | Jun | 52.2 | 51.5 | |
| 9:45AM | Jun S&P Global Services PMI | Jun | 51.3 | 51 | 50.7 |
| 11:30AM | 6-Week Bill Auction (%) | 3.620% | 3.600% | ||
| 1:00PM | 2-Yr Note Auction (bl) | 69 | |||
| Wednesday, Jun 24 | |||||
| 7:00AM | Jun/19 Mortgage Market Index | Jun/19 | 269.5 | ||
| 7:00AM | Jun/19 MBA Refi Index | Jun/19 | 810.2 | ||
| 7:00AM | Jun/19 MBA Purchase Index | Jun/19 | 170.8 | ||
| 8:30AM | May Building Permits (ml) | May | 1.413M | 1.423M | |
| 9:20AM | NY Fed Bill Purchases 4 to 12 months (%) | $3.319 billion | |||
| 10:00AM | May New Home Sales (ml) | May | 0.64M | 0.622M | |
| 10:00AM | May New Home Sales (%) (%) | May | -6.2% | ||
| 10:30AM | Jun/19 Crude Oil Inventory (ml) | Jun/19 | -5.1M | -8.262M | |
| 11:30AM | 2-Yr Note Auction (bl) | 28 | |||
| 11:30AM | 2-Year FRN Auction (%) | 0.089% | |||
| 1:00PM | 5-Yr Note Auction (bl) | 70 | |||
| 4:00PM | Fed Bank Stress Test Results | ||||
