| Time | Indicator/Event | Comment |
|---|---|---|
| 08:30 | GDP | A small upward revision is possible |
| 08:30 | Personal consumption | Solid gain likely in May |
| 08:30 | Durable goods | Big drop expected in May, led as usual by aircraft |
| 08:30 | Chicago Fed NAI | Roughly neutral in May |
| 08:30 | Jobless claims | Holiday-related drop seems likely |
| 08:45 | Bowman (FOMC voter) | On small bank supervision and regulation |
| 11:00 | 6-, 13- and 26-wk bill announcement | No changes expected |
| 11:00 | Kansas City Fed index | Moderately positive again this month |
| 11:30 | 4- and 8-wk bill auction | $70 billion and $75 billion offerings |
| 13:00 | 7-yr note auction | $44 billion offering |
| 14:00 | Treasury buyback (liq support) | Nominal coupons 20Y to 30Y |
| 14:00 | Goolsbee (FOMC non-voter) | Appears on CNBC |
| 15:40 | Williams (FOMC voter) | Keynote address at money fund conference |
| 18:30 | Goolsbee (FOMC non-voter) | On monetary policy |
Treasury Highlights for Thursday, June 25, 2026
Economic Indicator Preview for Thursday, June 25, 2026
May data on PCE and PCE prices, the third estimate of Q1 GDP, the May durable goods report and the weekly jobless claims figures are all due at 8:30 this morning.
Kevin Warsh hit the ground running in his first meeting as Fed chairman last week. He oversaw a significant overhaul of the structure of the FOMC’s policy statement, and outlined plans to create a group of task forces to jump-start his Fed “reform” agenda. This week’s MMO adds a few comments to our preliminary recap from Wednesday night. Separately, we preview the expected seasonal rebound in Treasury bill offering sizes in July. Last week’s June 15 quarterly tax revenues were stronger than expected, which led us to scale back our forecasts for bill size increases in the coming weeks – but only marginally so.
