Agenda
| Time | Indicator/Event | Comment |
| 07:30 | NFIB index | Sentiment still recovering |
| 08:30 | Retail sales | Higher gas prices contribute to modest nominal gain |
| 08:30 | PPI | Higher gas prices jack up all-items index |
| 10:00 | IBD/TIPP consumer confidence | Partial reversal of last month's increase |
| 10:00 | TAF results | Results of yesterday's auction |
| 10:00 | Business inventories | Another large decline |
| 13:00 | 4-week bill auction | An unchanged $34 billion offering |
| 17:00 | ABC consumer comfort index | Bouncing around at low levels |
| Weekly chain store surveys | Moderate sales at the beginning of July |
Intraday Updates
The headline index in the NFIB small business survey continued to lag behind other business sentiment measures in June.
The core PPI was stronger than expected, which tilts the risks in tomorrow's CPI slightly to the high side. Core retail sales, on the other hand, were slightly softer than expected once revisions are taken into account.
The net run-off in term auction credit this week was at the high end of expectations.
Business inventories were slightly weaker than expected, and are shaping up to be a drag on Q2 output. more »
Economic Indicators
The economic calendar finally begins to heat up this morning. The NFIB’s small business index starts things early at 7:30, followed by retail sales and the PPI at 8:30, and finally business inventories at 10:00. Energy will play a major role in the two 8:30 reports. In both cases, the spike in energy prices in June will mask weakness in other categories. more »
Federal Reserve Operations & the Overnight Market
Fed Open Market Operations The Fed will release the results of yesterday's 84-day TAF auction this morning at 10:00 and conduct a Treasury purchase in the 2- to 3-year sector shortly after. more »
Fed Funds Monitor Fed funds data tables more »
Treasury Finance
The string of minor surprises in Treasury bill auction sizes continued yesterday with the announcement of an unchanged offering size for today’s 28-day bill sale. more »
The Money Market Observer
Monday, Jul 13 The Treasury published its monthly report on auction allotments on Friday afternoon, which confirmed the role of central banks in boosting the level of indirect tenders in recent note and bond sales. The allotments data did not, however, shed any light on how much of the increase in indirect tenders was due to changes in reporting requirements rather than an increase in demand. more »
Daily Press Summary (pdf)
Inside Debt Daily for Tuesday, Jul 14 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 »
