Agenda
| Time | Indicator/Event | Comment |
| 08:30 | Nonfarm payrolls | Payrolls up slightly, unemployment down |
| 15:00 | Consumer credit | 14th decline in the past 15 months |
| 17:15 | Bullard (FOMC voter) | On monetary policy |
Intraday Updates
The employment report included some large -- and conflicting -- surprises. Unemployment fell even more than expected, but the revision in the payroll trend was even more negative than anticipated. more »
Economic Indicators
Despite yesterday’s soft initial claims figures, we still expect the major headline numbers in the report to be positive. We expect the unemployment rate to fall through the psychologically important 10% mark, and we think the odds are better than 50-50 that payrolls will rise. more »
Federal Reserve Operations & the Overnight Market
Fed Funds Monitor Fed funds data tables more »
Fed Data The passage of the debt limit increase yesterday should clear the way for a resumption of SFP bill sales in the second half of February. That won’t reduce the supply of excess reserves at the outset. Rather, it will offset increases that would otherwise have occurred due to the ongoing growth of the Fed’s MBS portfolio. Also, last night’s weekly banking data highlighted two themes that have been staples of our weekly data reviews over the past couple of months: the downturn in the Fed’s custody holdings of U.S. government securities for foreign official institutions, and the deepening quagmire in the MBS settlement process. more »
Treasury Finance
Treasury cash flows table more »
The Money Market Observer
Monday, Feb 1 The Treasury will hold its quarterly financing press conference on Wednesday this week. We think Treasury note and bond offering sizes are close to a turning point. There is a chance that the Treasury will announcement one last round of increases in its 10- and 30-year issues this month, but the rest of its nominal offerings have probably already reached their peaks. Congress may finally approve a full-sized increase in the debt ceiling this week, which would clear the way for the resumption of SFP bill sales this month. more »
Daily Press Summary (pdf)
Inside Debt Daily for Friday, Feb 5 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 »
