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Overview: Mon, December 05

Daily Agenda

Time Indicator/Event Comment
08:30Dudley (FOMC voter)On the economy and policy
09:25Evans (FOMC non-voter)On the economy and policy 
09:45Markit services PMI (final)Little changed in November
10:00ISM non-mfg reportLittle changed at moderately strong level in November
10:00Fed LMCIModestly positive again in November?
11:004-week bill announcementLikely unchanged at $45 billion
11:303- and 6-month bill auction$2 billion reduction in each maturity
14:05Bullard (FOMC voter)On the U.S. economic outlook

Intraday Updates

US Economy

  • Capsule Economic Indicator Summaries for the Week of December 5, 2016

    With Friday’s employment report out of the way, the next big wave of economic data is not due until the middle of next week – in the days bracketing next Wednesday’s rate hike.  This week’s calendar has very few noteworthy indicators.  This morning’s ISM non-manufacturing survey is likely to suggest that growth outside the factory sector remains moderately strong, and tomorrow’s international trade report is likely to indicate that the inflation-adjusted trade gap started the fourth quarter on track to be a drag on the Q4 GDP math.

Federal Reserve and the Overnight Market

Treasury Finance

This Week's MMO

  • MMO for December 5, 2016

    The incoming Secretary of the Treasury reiterated last week that extending the average maturity of the debt remains a top priority.  A full-fledged ultra-long bond program would take some time to design, but maturity adjustments within the existing Treasury auction calendar could begin as early as February. Separately, we have uploaded our 2017 calendar of economic indicators in conjunction with this week’s newsletter.  

Federal Reserve Commentary

MMO Analysis