Daily Summary

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for Monday, January 26, 2015

Agenda

TimeIndicator/EventComment
10:30Dallas Fed manufacturing surveyLittle change expected in January
11:004-week bill announcementAnother $30 billion offering expected
11:303- and 6-month bill auctionSteady at current levels
14:00CBO budget and economic outlookUpdated projections from 2015 to 2025

The Money Market Observer

Monday, Jan 26 This week’s FOMC policy statement is likely to seem very humdrum after the high-drama pronouncements coming out of other central banks so far this month. And the market will be properly grateful if it is. Separately, this week’s MMO takes a look at the prospects for next Wednesday’s Treasury refunding announcement. The financing outlook for the next couple of quarters will be affected by three factors: a steadily improving budget outlook, near-term debt ceiling technicalities, and the Treasury’s newfound preference for ample cash reserves. more »

Economic Indicators

We won’t get much new economic data of note until after Wednesday’s FOMC meeting. The two major items on this week’s data calendar are GDP and the ECI for the fourth quarter, both of which come out on Friday morning. We expect both indicators to be reasonably healthy, but not as strong as they were in the third quarter. Other indicators of note this week include durable goods and consumer confidence tomorrow and pending home sales on Thursday. Today’s calendar is limited to the Dallas Fed’s regional factory survey at 10:30. more »

Federal Reserve Operations & the Overnight Market

Fed Open Market Operations Reserve balance and reverse RP tables more »

Overnight Funding Monitor Daily GCF repo forecasts more »

Treasury Finance

The Treasury has a crowded auction schedule this week. In addition to the regular weekly bills, it will hold its month-end nominal note auctions from Tuesday through Thursday and will also sell $15 billion of new FRNs tomorrow morning. more »

Daily Press Summary (pdf)

ICAP's Inside Debt Report for Friday, Jan 23 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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