Overview: Thu, June 29

Daily Agenda

Time Indicator/Event Comment
08:30GDPModest upward revision to 1.3%?
08:30Jobless claimsFocus on continuing claims
11:004-, 13- & 26-week bill announcementChanges possible in all three maturities
13:00Bullard (FOMC non-voter)On U.S. economy and monetary policy

Intraday Updates

US Economy

  • Economic Indicator Preview for Thursday, June 29, 2017

    Today’s revised level for Q1 GDP is likely to be close to or slightly above last month’s 1.2% estimate.  We don’t expect much movement in initial claims in the weekly jobless claims report, but we think continuing claims are likely to retreat somewhat following three straight weekly increases.

Federal Reserve and the Overnight Market

Treasury Finance

This Week's MMO

  • MMO for June 26, 2017

    The Alternative Reference Rates Committee took another big step forward last week when it voted to endorse a broad Treasury repo rate as a new secondary benchmark for the market. In contrast to earlier proposed GC indexes, which were restricted to tri-party data, the new broad index will include some bilateral trades cleared through FICC.  The new rate won’t officially go into production for some months to come, but the Fed released a couple of years of history of the new rate to give the market a feel for its behavior.

MMO Analysis