Agenda
| Time | Indicator/Event | Comment |
| 07:00 | MBA mortgage prch. index | Will refis start to recover? |
| 08:15 | ADP national employment report | Probably still biased upwards |
| 08:30 | Productivity | Moderate downward revisions |
| 09:45 | Fannie Mae bill auction | $2 billion in 3- and 6-month bills |
| 10:00 | ISM non-mfg report | Traditionally less volatile than the factory survey |
| 10:15 | Krozner (FOMC voter) | On Community Reinvestment Act |
| 12:30 | Lacker (FOMC non-voter) | On the economy |
| 14:00 | Beige book | Dire |
| 14:00 | TSLF auction | $37.5 billion of Schedule 2 loans |
| Reserve maint. period ends |
Intraday Updates
The ADP employment report for November points to a larger decline in nonfarm payrolls than we had originally assumed.
The revised Q3 productivity estimates held up better than expected.
The ISM non-manufacturing index fell off a cliff in November.
The beige book prepared for the December FOMC meeting was as downbeat as expected. more »
Economic Indicators
Today’s calendar features a variety of different kinds of reports, starting with the private-sector ADP employment report at 8:15 and continuing through the Fed’s beige book at 2:00. Along the way, the Labor Department will report the latest revisions to the quarterly productivity figures and the ISM will publish its November non-manufacturing survey. more »
Federal Reserve Operations & the Overnight Market
Fed Open Market Operations We expect a routine $25 billion overnight reverse RP this morning. more »
Fed Funds Monitor Our guess is that the tone in the funds market will not change drastically on today's maintenance period statement date. The outlook becomes much more uncertain starting tomorrow, however, due to the potential rule changes discussed in this week's issue of our newsletter. more »
The Money Market Observer
Monday, Dec 1 This week’s newsletter discusses the uncertainties associated with FOMC anticipation effects in the new maintenance period that begins this Thursday, as well as the role (if any) that quantitative easing might play in Fed policy in the months ahead. more »
Daily Press Summary (pdf)
ICAP's i-Recap Report for Wednesday, Dec 3 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 »
