US DATA: Revolving Credit Growth Stalls, As Consumer Deleveraging Continues
Jul-08 19:42
Consumer credit growth was much weaker in May than expected, with a $0.2B decline vs the $17.5B cons...
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US TSYS: Cease Fire Hopes Gradually Ablated
Jun-08 19:30
- Treasuries look to finish weaker for the most part, well off early highs after sentiment jumped on US/IRAN/Israel cease-fire hopes.
- Early "demand" by Pres Trump that Iran & Israel cease fire immediately cooled as saber rattling headlines emerge: "ISRAEL REJECTS IRAN’S WARNING NOT TO HIT LEBANON: KATZ" via Bbg.
- Treasuries reverse course to largely weaker again, low end of session range: TYU6 trades -2 at 109-00.5 vs. 108-25 overnight low - initial technical support. The bear trigger lies at 108-08+, the May 19 low. Clearance of this level would confirm a resumption of the downtrend.
- US equity indexes are running mixed at the moment, scaling off first half highs as US/Iran war de-escalation hopes started to fade. Currently, the DJIA is -.014%, SPX emini +.17% while the tech heavy Nasdaq gained 0.8%.
- WTI Crude ended higher following Iran-Israel strikes overnight and through Monday morning, though pared gains after Iran announced a halt to its military response. The ceasefire is likely to face fresh tests amid continued Israel/Hezbollah conflict in Lebanon. US data this week includes CPI on Wednesday, which is likely to reflect the impact of energy prices on inflation.
US INFLATION: MNI US CPI Preview: Monthly Moderation But Still Too High
Jun-08 19:25
We have published our preview of the upcoming US CPI Report, found here: https://media.marketnews.com/USCPI_Prev_Apr2026_76aa0947d0.pdf
Refer to the publication for:
- Analyst unrounded estimates for headline and core
- Detailed analyst estimates by component level plus initial core PCE tracking
- MNI analysis of key areas to watch including supply chain pressures
- Pertinent MNI policy team pieces
LOOK AHEAD: Tuesday Data Calendar: ADP Weekly Jobs, Exist Home Sales, 3Y Sale
Jun-08 19:03
- US Data/Speaker Calendar (prior, estimate). All times ET
- 06/09 0600 NFIB Small Business Optimism (95.9, 96.0)
- 06/09 0815 ADP Weekly Employment Change/NER Pulse (35.75k prior)
- 06/09 0830 Trade Balance (-$60.3b, -$56.5B)
- 06/09 0830 Imports MoM (2.3%, 1.2%), Exports MoM (2.0%, 2.6%)
- 06/09 1000 Existing Home Sales (4.02M, 4.06M), MoM (0.2%, 1.0%)
- 06/09 1000 Wholesale Inventories MoM final (0.5%, 0.6%)
- 06/09 1000 Wholesale Trade Sales MoM (2.8%, --)
- 06/09 1130 US Tsy $65B 6W & $50B 52W bill auctions
- 06/09 1300 US Tsy $58B 3Y Note auction (91282CQV6)
- Source: Bloomberg Finance L.P. / MNI
