ISM Manufacturing Index, which used to be called Purchasing Manager’s Index (PMI), measures manufacturing activity based on a monthly survey, conducted by Institute for Supply Management (ISM), of purchasing managers at more than 300 manufacturing firms.
Bureau of Economic Analysis. 6/26/2020. BEA’s personal income statistics show the income that U.S. residents get from paychecks, employer-provided supplements such as insurance, business ownership, rental property, Social Security and other government benefits, interest, and dividends.
Mortgage applications to purchase a home are holding at multi-year highs for this time of year.
Inflation varies by income!
Separately, market-based inflation expectations continue to rebound.
US Treasury’s cash balance at the Fed is now above $1.7 trillion as the government continues with its accelerated pace of debt issuance.
SPDR Americas Research. Healthcare and consumer staples saw outflows last month, while industrials saw inflows.
Trends in institutional vs. retail investor positioning have diverged.
In Germany, job losses in June were substantially below the consensus estimate.
