| Time | Indicator/Event | Comment |
|---|---|---|
| 07:00 | MBA mortgage prch. index | Rates up then down during week, maybe little change in filings |
| 08:15 | ADP national employment report | Little changed from last month |
| 09:20 | Fed bill purchase | 1- to 4-month maturities |
| 09:30 | Warsh (FOMC voter) | Takes part in panel at ECB forum |
| 10:00 | ISM manufacturing PMI | Close to last month's 4-year high |
| 10:00 | Construction spending | Little change expected in May |
| 11:30 | 17-wk bill auction | $72 billion offering |
| 14:00 | Treasury buyback (liq support) | Nominal coupons 10Y to 20Y |
| Dom & imp. auto sales | Flat to slightly higher in June |
Treasury Highlights for Wednesday, July 1, 2026
Economic Indicator Preview for Wednesday, July 1, 2026
The June ADP employment report is scheduled to come out at 8:15 this morning. The June ISM manufacturing survey and the May construction spending report will both be released at 10:00. June auto sales results will come out over the course of the day.
This week’s newsletter contains a quick update on the July upswing in bill supplies, which got off to a slightly earlier and slightly stronger start than we expected. We also include an update on tariff refund processing, which picked up unexpectedly at the end of last week and may remain strong over the course of the coming month. Finally, for the benefit of Fed-data trivia buffs, we look at the spike in other deposits at the New York Fed last week.
