Overview: Wed, September 28

Daily Agenda

Time Indicator/Event Comment
07:00MBA mortgage prch. indexOn track for solid increase in September
08:30Durable goodsModerate increase possible in August
08:45Kashkari (FOMC non-voter)Q & A at Institutional Investor Conference in Minneapolis
10:00YellenTestify before House panel on bank supervision
10:10Bullard (FOMC voter)At Community Banking conference
11:302-yr FRN (r) auction$13 billion offering
13:007-yr note auctionUnchanged at $28 billion
13:30Evans (FOMC voter)At Community Banking conference
16:35Mester (FOMC voter)On the economic outlook and monetary policy
19:15George (FOMC voter)At KC FRB Minority Bankers Forum
Reserve maint. period ends

US Economy

  • Economic Indicator Preview for Wednesday, September 28, 2016

    Our forecast for today’s advance durable goods report is at the high end of the range of estimates, probably because of our assumption for the civilian aircraft component.  We expect overall new orders to be up moderately in August, but we expect orders excluding aircraft to be up only slightly.  Core capital goods orders are likely to be flat.

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