- S&P/CaseShiller Home Price Index (Released 9:00 EST)
- S&P/CaseShiller Composite 20 YoY (Released 9:00 EST)
- Consumer Confidence (Released 10:00 EST)
- Richmond Fed Manufacturing Index (Released 10:00 EST)
- House Price Index MoM (Released 10:00 EST)
- ABC Consumer Confidence (Released 18:00 EST)
S&P/Case Shiller Home Price Index (Apr)
| Survey | |
| Actual | 169.9 |
| Prior | 172.2 |
| Revised | 172.2 |
S&P/Case Shiller Composite 20 YoY (Apr)
| Survey | -16.0% |
| Actual | -15.3% |
| Prior | -14.4% |
| Revised | -14.3% |
Karim writes:
- Conf board survey drops to 16yr low, from 58.1 to 50.4
- Current conditions drop 9.7pts and future expectations fall 6.3pts
- 1yr fwd inflation expex unch at 7.7
- All following drop to new cycle lows
- Jobs plentiful less jobs hard to get (-12.2 to -16.4; pretty good leading indicator of unemployment rate)
- Plans to buy auto in next 6mths from 5.1 to 4.8
- Plans to buy a home from 2.4 to 2.2
- Plans for a domestic vacation from 33.4 to 29.6
- Plans for foreign vacation from 8.2 to 7.5
Inflation is biting harder than the lower Fed funds rate is helping.
The Fed has to decide whether a slightly higher Fed funds rate will bring more relief/benefit to consumers on the inflation side than possible additional drag from the interest rate side.
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Consumer Confidence (Jun)
| Survey | 56.0 |
| Actual | 50.4 |
| Prior | 57.2 |
| Revised | 58.1 |
Richmond Fed Manufacturing Index (Jun)
| Survey | -5 |
| Actual | -12 |
| Prior | -5 |
| Revised | n/a |
Not looking good.
Weakness and ‘inflation’ continue.
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House Price Index MoM (Apr)
| Survey | -0.4% |
| Actual | -0.8% |
| Prior | -0.4% |
| Revised | -0.6% |
Back down, but at least not through the lows.
ABC Consumer Confidence (Jun 22)
| Survey | – |
| Actual | – |
| Prior | -44 |
| Revised | – |
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