Econ Calendar

A midday look ahead in preparation for economic reports and events scheduled for the next trading day.

Highlights:

Tuesday”s overload of econ reports caught up with the three-day weekend. Wednesday”s is remarkably unremarkable. Mortgage apps and Redbook have no track record for influencing price action. The noon hour”s 5-year auction will have a higher-profile, and that can make it dangerous.

Jeffrey Lacker Speaks
TUE 7:10 PM ET

MBA Mortgage Applications
7:00 AM ET

Redbook
8:55 AM ET

4-Week Bill Auction
11:30 AM ET

52-Week Bill Auction
11:30 AM ET

2-Yr FRN Note Auction
1:00 PM ET

5-Yr Note Auction
1:00 PM ET

A midday look ahead in preparation for economic reports and events scheduled for the next trading day.

Highlights: A lot of reports are crammed into the holiday-shortened week. Kicking it off is the highest-profile and most influential among them, Durable Goods. That tends to set the tone for reacting to the day”s additional reports, but that might lose meaning with this quantity. Three housing sector reports, two Fed surveys (which don”t usually impact price action when released individually), PMI and Consumer Confidence. If the data come in poorly as has been the trend, that will be challenging for the noon hour”s hawkish Fed speaker to argue seriously for near-term rate hikes.

Durable Goods Orders
8:30 AM ET

FHFA House Price Index
9:00 AM ET

S&P Case-Shiller HPI
9:00 AM ET

PMI Services Flash
9:45 AM ET

New Home Sales
10:00 AM ET

Consumer Confidence
10:00 AM ET

Richmond Fed Manufacturing Index
10:00 AM ET

State Street Investor Confidence Index
10:00 AM ET

Dallas Fed Mfg Survey
10:30 AM ET

3-Month Bill Auction
11:30 AM ET

6-Month Bill Auction
11:30 AM ET

Stanley Fischer Speaks – hawkish
12:30 PM ET

2-Yr Note Auction
1:00 PM ET

A midday look ahead in preparation for economic reports and events scheduled for the next trading day.

Highlights:

A three-day holiday weekend means thin-trading Friday afternoon. Globex will re-open Sunday night normally and trade through Monday”s noon hour.

Memorial Day
No regular trading hours

Globex close
1:00 PM ET

A midday look ahead in preparation for economic reports and events scheduled for the next trading day.

Highlights:  

Friday”s pre-open CPI normally would be the only influential report of a pre-holiday session. But any volatility that it triggers may quickly become inhibited by anxiousness ahead of Fed Chair Yellen”s afternoon speech. And that comes on a day of early bond market closure. Good to the last drop?

John Williams Speaks — dove
THU 7:00 PM ET

*Consumer Price Index
8:30 AM ET

PMI Manufacturing Index Flash
9:45 AM ET

**Janet Yellen Speaks — dove
1:00 PM ET

Bond market early close
2:00 PM ET

A midday look ahead in preparation for economic reports and events scheduled for the next trading day.

Highlights: 

Thursday”s Philly is the only Fed survey with a track record for influencing price action. And it”s being announced simultaneously with two other reports, one being LEI which is also reliably influential.

Jobless Claims
8:30 AM ET

Chicago Fed National Activity Index
8:30 AM ET

Bloomberg Consumer Comfort Index
9:45 AM ET

*Philadelphia Fed Business Outlook Survey
10:00 AM ET

Existing Home Sales
10:00 AM ET

*Leading Indicators
10:00 AM ET

EIA Natural Gas Report
10:30 AM ET

Kansas City Fed Manufacturing Index
11:00 AM ET

10-Yr TIPS Auction
1:00 PM ET

Stanley Fischer Speaks — hawkish
1:30 PM ET

Fed Balance Sheet
4:30 PM ET

Money Supply
4:30 PM ET