|08:30||Jobless claims||Partial reversal of last week's decline|
|09:45||Chicago PMI||Little change expected this month|
|11:00||4-, 13- and 26-week bill announcement|
4-week bill being announced early due to the holiday
|15:15||Bullard (FOMC voter)||At Society of Business Economists|
We think jobless claims will reverse some of last week’s improvement, but are likely to remain at low levels by historical standards. The Chicago purchasing managers survey may remain near its breakeven level of 50.
Today's announcements: 4-, 13- & 26-week bills
We’ve updated our Fed rate hike outlook in this week’s newsletter. (We have a feeling that updating our policy outlook is something we’re going to be doing a lot of in the weeks to come. Also, this week’s MMO takes a look at the implications of last week’s swings in overnight rates for the debate over choosing an alternative benchmark index.