Schedule for Week of September 20, 2015

The key reports this week are August New Home sales on Thursday, the third estimate of Q2 GDP, also on Thursday, and August existing home sales on Monday.

There will be a focus on Fed Chair Dr. Yellen's speech on Thursday.

----- Monday, September 21st -----
10:00 AM: Existing Home Sales for August from the National Association of Realtors (NAR). The consensus is for 5.50 million SAAR, down from 5.59 million in July.

Sales in July were at a 5.59 million SAAR. Economist Tom Lawler estimates the NAR will report sales of 5.54 million SAAR.

A key will be the reported year-over-year change in inventory of homes for sale.


----- Tuesday, September 22nd -----
9:00 AM: FHFA House Price Index for July 2015. This was originally a GSE only repeat sales, however there is also an expanded index.  The consensus is for a 0.4% month-to-month increase for this index.

10:00 AM: Richmond Fed Survey of Manufacturing Activity for September.

----- Wednesday, September 23rd -----
7:00 AM: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

During the day: The AIA's Architecture Billings Index for August (a leading indicator for commercial real estate).

----- Thursday, September 24th -----
8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 275 thousand initial claims, up from 264 thousand the previous week.

8:30 AM: Durable Goods Orders for August from the Census Bureau. The consensus is for a 2.2% decrease in durable goods orders.

8:30 AM ET: Chicago Fed National Activity Index for August. This is a composite index of other data.

10:00 AM: New Home Sales for August from the Census Bureau.

This graph shows New Home Sales since 1963. The dashed line is the July sales rate.

The consensus is for an increase in sales to 515 thousand Seasonally Adjusted Annual Rate (SAAR) in August from 507 thousand in July.

11:00 AM: the Kansas City Fed manufacturing survey for August.

5:00 PM: Speech by Fed Chair Janet Yellen, "Inflation Dynamics and Monetary Policy", At the University of Massachusetts Amherst, Amherst, Massachusetts

----- Friday, September 25th -----
8:30 AM: Gross Domestic Product, 2nd quarter 2015 (third estimate). The consensus is that real GDP increased 3.7% annualized in Q2, the same as the second estimate.

10:00 AM: University of Michigan's Consumer sentiment index (final for September). The consensus is for a reading of 87.1, up from the preliminary reading of 85.7.

from Calculated Risk http://ift.tt/1iElMr1
via YQ Matrix