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Thursday: Unemployment Claims, Philly Fed Mfg Survey

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Thursday: Unemployment Claims, Philly Fed Mfg Survey

Thursday:• At 8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 217 thousand initial claims, down from 222 thousand last week. • At 8:30 AM: the Philly Fed manufacturing survey for June. The consensus is for a reading of 14.0, down from 16.6. Calculated Risk
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Tuesday: Housing Starts

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Tuesday: Housing Starts

From Matthew Graham at Mortgage News Daily: Mortgage Rates Stay Flat, But Risks Will Increase From Here Mortgage rates were only modestly higher today. Most lenders were still quoting the same rates compared to Friday with the only difference being slightly higher upfront costs. This means the rate at the top of the average...
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Schedule for Week of June 16, 2019

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Schedule for Week of June 16, 2019

The key reports this week are May housing starts and existing home sales. For manufacturing, the June New York and Philly Fed manufacturing surveys will be released. The FOMC meets this week, and no change to policy is expected at this meeting. —– Monday, June 17th —–8:30 AM: The New York Fed Empire State...
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Friday: Retail Sales, Industrial Production

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Friday: Retail Sales, Industrial Production

Friday:• At 8:30 AM, Retail sales for May is scheduled to be released.  The consensus is for 0.7% increase in retail sales. • At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for May. The consensus is for a 0.2% increase in Industrial Production, and for Capacity Utilization to increase to...
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LA area Port Traffic Down Year-over-year in May

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LA area Port Traffic Down Year-over-year in May

Special note: The expansion to the Panama Canal was completed in 2016 (As I noted a few years ago), and some of the traffic that used the ports of Los Angeles and Long Beach is probably going through the canal. This might be impacting TEUs on the West Coast. On the impact of the...
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Leading Index for Commercial Real Estate Declines in May

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Leading Index for Commercial Real Estate Declines in May

From Dodge Data Analytics: Dodge Momentum Index Falls in May The Dodge Momentum Index fell 1.0% in May to 141.0 (2000=100) from the revised April reading of 142.4. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which...
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Mortgage Equity Withdrawal Negative in Q1

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Mortgage Equity Withdrawal Negative in Q1

Note: This is not Mortgage Equity Withdrawal (MEW) data from the Fed. The last MEW data from Fed economist Dr. Kennedy was for Q4 2008. The following data is calculated from the Fed’s Flow of Funds data (released last week) and the BEA supplement data on single family structure investment. This is an aggregate...
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ISM Non-Manufacturing Index increased to 56.9% in May

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ISM Non-Manufacturing Index increased to 56.9% in May

The May ISM Non-manufacturing index was at 56.9%, up from 55.5% in April. The employment index increased to 58.1%, from 53.7%. Note: Above 50 indicates expansion, below 50 contraction. From the Institute for Supply Management: May 2019 Non-Manufacturing ISM Report On Business® Economic activity in the non-manufacturing sector grew in May for the 112th...
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Construction Spending Mostly Unchanged in April

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Construction Spending Mostly Unchanged in April

From the Census Bureau reported that overall construction spending was mostly unchanged in April: Construction spending during April 2019 was estimated at a seasonally adjusted annual rate of ,298.5 billion, nearly the same as the revised March estimate of ,299.2 billion. The April figure is 1.2 percent below the April 2018 estimate of ,314.7...
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Schedule for Week of June 2, 2019

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Schedule for Week of June 2, 2019

The key report scheduled for this week is the May employment report. Other key reports include the ISM Manufacturing and non-manufacturing surveys, Vehicle Sales and the Trade Deficit for April. Fed Chair Jerome Powell speaks on Tuesday, and the Fed’s Q1 Flow of Funds report will be released on Thursday. —– Monday, June 3rd...
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