|08:30||Chicago Fed NAI||Back into the plus column in September|
|11:00||4-week bill announcement||Another $40 billion offering expected|
|11:30||3- and 6-month bill auction||Steady at $42 billion and $36 billion respectively|
|15:00||Treasury investor class auction data||Mid-October data|
The Chicago Fed’s national tracking index is likely to post a partial rebound from a low reading in August.
Today’s bill announcement: 4-week bills
Today’s bill auctions: 3- and 6-month bills
In the days leading up to the latest FOMC blackout period, Fed officials did nothing to dissuade the market from assuming that a December rate hike was a done deal. Our guess is that the economic data due out between now and the end of the blackout period will be a mixed bag: GDP and nonfarm payrolls are likely to be solid, but the average hourly earnings series may give back much of last month’s above-trend surprise.