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Welcome to June

Market News

Top Day Market News

6.01.12

Welcome to June.

Bonds are rolling over to September as front month forward.

China’s purchasing manager’s index came in softer than expected. This continued to put pressure on crude. China also continues to depreciate its currency, a positive for their exports, a negative for everyone else.

Non farm payroll is forecasted to have come in at 150K with the unemployment rate at 8.0%. The 2nd look at Q1 GDP at 1.9% suggests a jobs number of 118K. The Institute for Supply Management out at 10 is supposed to be soft and under an expected reading of 53. Germany’s 2 year paper carries a negative yield. In other words, you pay them to hold your money for two years, they don’t pay you.

Monti of Italy and Draghi of the ECB are attempting to move Merkel towards a more immediate response to stabilize the EU. Japan has made some noises about intervention.

Week of May 28 - June 01

Date ET Release For Actual Briefing.com Briefing.com Prior Revised
          Forecast Consensus   From
May 09:00 Case-Shiller 20-city Mar   -3.0% -2.8% -3.5%  
29 Index    
             
Date ET Release For Actual Briefing.com Briefing.com Prior Revised
          Forecast Consensus   From
May 10:00 Consumer Confidence May   71.0 69.0 69.2  
29    
               
May 07:00 MBA Mortgage Index 05/26   NA NA 3.8%  
30    
               
May 10:00 Pending Home Sales Apr   2.0% -1.0% 4.1%  
30    
               
May 07:30 Challenger Job Cuts May   NA NA 11.2%  
31    
               
May 08:15 ADP Employment May   165K 145K 119K  
31 Change    
             
May 08:30 Initial Claims 05/26   365K 370K NA  
31    
               
May 08:30 Continuing Claims 05/19   3250K 3265K NA  
31    
               
May 08:30 GDP - Second Q1   1.9% 1.9% 2.2%  
31 Estimate    
             
May 08:30 GDP Deflator - Q1   1.5% 1.5% 1.5%  
31 Second Estimate    
             
May 09:45 Chicago PMI May   55.0 57.5 56.2  
31    
               
May 11:00 Crude Inventories 05/26   NA NA 0.883M  
31    
               
Jun 08:30 Nonfarm Payrolls May   175K 155K 115K  
01    
               
Jun 08:30 Nonfarm Private May   185K 172K 130K  
01 Payrolls    
             
Jun 08:30 Unemployment Rate May   8.0% 8.1% 8.1%  
01    
               
Jun 08:30 Hourly Earnings May   0.1% 0.2% 0.0%  
01    
               
Jun 08:30 Average Workweek May   34.5 34.5 34.5  
01    
               
Jun 08:30 Personal Income Apr   0.2% 0.3% 0.4%  
01    
               
Jun 08:30 Personal Spending Apr   0.2% 0.3% 0.3%  
01    
               
Jun 08:30 PCE Prices - Core April   0.2% 0.2% 0.2%  
01    
               
Jun 10:00 ISM Index May   53.0 54.0 54.8  
01    
               
Jun 10:00 Construction Apr   0.0% 0.5% 0.1%  
01 Spending    
             
Jun 14:00 Auto Sales May   NA NA 5.0M  
01    
               
Jun 14:00 Truck Sales May   NA NA 6.0  

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