|07:00||MBA mortgage prch. index||Flat to slightly higher in latest week|
|09:05||Kaplan (FOMC voter)||At oil group luncheon|
|09:45||Markit mfg PMI (flash)|
|09:45||Markit services PMI (flash)|
|10:00||New home sales||Steady in July?|
|11:30||2-yr FRN (r) auction||An unchanged $13 billion offering|
July new home sales are the only major monthly indicator on today’s calendar, and we look for them to hold steady at the currently reported June level.
Today's coupon auction: 2-year FRN reopening
Chair Yellen’s Jackson Hole speech on financial stability on Friday will be closely watched for signs that the Fed might be willing to look beyond short-run trends in the growth and inflation data in deciding whether to tighten again later this year. Separately, this week’s newsletter also includes a couple of quick comments about the July money fund data from the OFR. The data continue to show hints of a mild rebound in window-dressing by domestic dealers, and also show a small pickup in centrally-cleared sponsored repo.