Daily Summary

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for Tuesday, September 02, 2014

Agenda

TimeIndicator/EventComment
09:45Markit PMI (final)About the same as preliminary August reading of 58.0
10:00ISM factory reportMild pullback from high July level
10:00Construction spendingPartial reversal of big June decline
10:00IBD/TIPP economic optimism indexModerate improvement expected in September report
11:004-week bill announcementReduction expected
11:303- and 6-month bill auction$1 billion reduction in 6-month bill

Economic Indicators

This week’s economic calendar is bookended by the ISM factory report this morning and the employment report on Friday.  Other key indicators along the way include auto sales tomorrow and international trade and the ISM non-manufacturing survey on Thursday. more »

Federal Reserve Operations & the Overnight Market

Overnight Funding Monitor Daily GCF repo forecasts more »

Treasury Finance

Bill supplies are expected to rise by $22 billion this week, capping a 2-month expansion totaling $94 billion.  We expect the Treasury to retire roughly two thirds of that amount over the four weeks starting next week. more »

The Money Market Observer

Monday, Sep 1 It is far too early to start trying to align the fed funds futures curve with specific meeting-by-meeting expectations for Fed policy in 2015 and beyond. However, it is not too early to start thinking about how that process will work as some of the blanks in the policy outlook start to be filled in. This week’s newsletter takes a look at some of the current obstacles to forming more concrete expectations for the funds rate next week, as well as some of the considerations that will come into play in shaping month-to-month spreads between fed funds futures contracts as liftoff draws closer. more »

Daily Press Summary (pdf)

ICAP's Inside Debt Report for Friday, Aug 29 ICAP's Inside Debt provides relevant end-of-day news summaries and market sector commentary from Reuters for the FOREX, Treasuries, Corporates and Equities markets, a 3 pm EST market snapshot pricing of all market sectors from ICAP and economic data from Wrightson ICAP in a take-home, easy-to-read format. Download a PDF file of the most recent report now. go »

Daily Press Summary Archive go »

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