Agenda
| Time | Indicator/Event | Comment |
| 08:30 | Nonfarm payrolls | Job losses are snowballing |
| 14:00 | Agency coupon pass | First of the Fed's recently announced agency purchases |
| 15:00 | Consumer credit | Small gains |
Intraday Updates
The employment report was far worse than we had anticipated, with payrolls posting their largest decline in more than 30 years. more »
Economic Indicators
This morning’s employment report is likely to provide a fitting end to a week of terrible economic data. We look for a decline of 350K to 400K in nonfarm payrolls, and an increase of three tenths of a percent (to 6.8%) in the unemployment rate. more »
Federal Reserve Operations & the Overnight Market
Fed Open Market Operations We expect another $25 billion draining operation this morning. Also, today's commentary discusses the outlook for the Fed's first agency coupon pass, scheduled for 2:00 this afternoon. more »
Fed Funds Monitor The funds rate shifted lower as we expected yesterday, resulting in an effective rate near the 47-year low of 0.22%. However, it is uncertain whether funds will move up or down from this level in the days ahead. more »
Fed Data The Fed's balance sheet largely remained in a holding pattern last week, with little change on average. However, the aggregate size of the balance sheet is due to start rising again this week. Also, the plunge in foreign official holdings of GSE securities showed some tentative signs of leveling out in the latest week. 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 Friday, Dec 5 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 »
