Agenda
| Time | Indicator/Event | Comment |
| 07:00 | MBA mortgage prch. index | Steeper decline this week |
| 09:00 | Mishkin (FOMC voter) | At Bank of Canada economic conference |
| 09:45 | Fannie Mae bill auction | $3 bln of 3- and 6-mo bills |
| 11:15 | Kohn (FOMC voter) | On transparency |
| 13:00 | 2-yr note auction | $1 billion increase to $31 billion |
| 13:00 | TSLF announcement | $25 billion Schedule 1 rollover expected |
| 14:00 | Beige book | On the lookout for signs of pricing power and higher wage demands |
Intraday Updates
The latest beige book had plenty to disappoint both the hawks and the doves on the FOMC. more »
Economic Indicators
There are no major statistical releases on this morning’s calendar, but the Fed will publish the beige book prepared for the August 5 FOMC meeting this afternoon at 2:00. more »
Federal Reserve Operations & the Overnight Market
Fed Open Market Operations We look for an overnight RP in the $7 billion to $8 billion range this morning. more »
Fed Funds Monitor We expect funds to open slightly above target, then move gradually lower over the second half of the session, resulting in a daily effective rate of a few basis points below target. more »
Treasury Finance
The Treasury has just one auction on the calendar today: a record $31 billion 2-year note. more »
The Money Market Observer
Monday, Jul 21 FOMC members made more waves last week with tough talk on inflation, but Chairman Bernanke’s Congressional testimony indicated that he was well aware of the significant challenges facing the economy. This week’s newsletter looks at the Fed's current stance in the context of the charge that policy was too easy for too long in previous cycles.
Also, this week’s issue discusses some of the questions in the Treasury’s agenda for this week’s dealer meetings. Rising federal borrowing requirements are creating a need for a further expansion of the Treasury’s auction calendar. We think a move to monthly 10-year note sales is a likely next step in the Treasury’s ongoing response to a changing fiscal environment. more »
Daily Press Summary (pdf)
ICAP's i-Recap Report for Wednesday, Jul 23 The i-Recap report provides relevant market news from Dow Jones Newswires and data from ICAP and Wrightson ICAP in a take-home, easy-to-read format highlighting key developments which could impact the capital markets the ensuing trading day. Download a PDF file of the most recent report now. go »
i-Recap Report Archive go »
