Agenda
| Time | Indicator/Event | Comment |
| 08:30 | International trade | Higher oil prices boost deficit slightly in May |
| 08:30 | Import prices | Higher oil prices boost import price index sharply in June |
| 10:00 | Geithner | Testify at House on derivatives |
| 10:00 | U. Michigan cons. sent., early | Modest reversal after strong June reading? |
| 15:00 | Treasury investor class auction data | June data |
Intraday Updates
The international trade deficit resumed its remarkable improvement in May, reaching a new 10-year low of $26 billion. Overall import prices surged by 3.2% due to higher oil prices, while core import prices posted a moderate 0.2% increase.
The Reuters/University of Michigan consumer sentiment index deteriorated sharply in early July. more »
Economic Indicators
Today’s economic calendar is relatively active by recent standards. The international trade balance for May and the import/export price report for June are due at 8:30. They will be followed by the Reuters/University of Michigan consumer sentiment report for early July just before 10:00. more »
Federal Reserve Operations & the Overnight Market
Fed Open Market Operations The Fed will conduct its weekly agency coupon purchase this morning around 10:30. more »
Fed Funds Monitor Fed funds data tables more »
Fed Data The Fed slowed its purchases of MBS for July delivery this week, which lowers our estimate of the level of excess reserves next week. Excess balances will still move above $800 billion after the weekend, but are likely to stay there only briefly. Also, the Fed reported a rare decline in its custody holdings of Treasury securities for foreign official institutions. The drop-off probably won't last long -- we expect a very large increase to be reported when this week's auctions settle next week. more »
Treasury Finance
Treasury cash flows table. more »
The Money Market Observer
Monday, Jul 6 The auto sector is likely to be the source of some significant statistical distortions in the early part of the third quarter. The first data quirks are likely to show up in the weekly jobless claims data. Initial claims may fall by 20% over the next couple of weeks, starting with a sizable drop in this Thursday’s report.
This week’s newsletter also includes some comments on the role of the boards of directors of the regional Federal Reserve banks, and the unnecessary conflicts of interest generated by the Fed’s traditional governance structure. more »
Daily Press Summary (pdf)
Inside Debt Daily for Friday, Jul 10 The Inside Debt Daily provides relevant market news and market segment commentary from Thomson Reuters 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 »
Daily Press and Pricing Archive go »
