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Overview: Tue, September 27

Daily Agenda

Time Indicator/Event Comment
09:00S&P/Case-Shiller home price indexSlight decline expected in July
09:45Markit services PMI (flash)Marginally above breakeven again in September
10:00Consumer confidenceDown from high August level but still strong
10:00Richmond Fed indexSomewhat less negative this month
11:15Fischer (FOMC voter)Discusses why study economics
11:304-week bill auction$5 billion increase to $40 billion
13:005-yr note auction8th consecutive $34 billion offering

US Economy

  • Economic Indicator Preview for Tuesday, September 27, 2016

    We expect seasonal distortions to pull the S&P CoreLogic Case-Shiller home price index down in July, but the YOY growth rate will remain solidly positive.  The Conference Board’s consumer confidence index is likely to pull back a little this month while remaining above its recent average.  Also, the Richmond Fed factory index should recover part of its 21-point August plunge.

Federal Reserve and the Overnight Market

Treasury Finance

This Week's MMO

  • MMO for September 26, 2016

    With the September FOMC announcement finally behind us, the long build-up to the December meeting begins.  It will be some time before the Fed can offer clear signals about the outlook for December, but we expect FOMC members to be even more explicit about their views in the run-up to that meeting than they were in September.  Also, on a very different note, this week’s newsletter explains everything you wanted to know about soybean exports but were afraid to ask.  (Yes, unfortunately, we’re actually serious about that.)  

Federal Reserve Commentary

MMO Analysis