Agenda
| Time | Indicator/Event | Comment |
| 08:30 | Nonfarm payrolls | Private payrolls moderately positive, unemployment rate down sharply |
| 15:00 | Consumer credit | Down again in June? |
Intraday Updates
The reporting distortions that we expected in the unemployment rate did not materialize. Nonfarm payrolls were weaker than expected due to unexpected weakness in state and local government payrolls, and to a downward revision to June. Private hiring trends in the July establishment survey were not very different from expectations. more »
Economic Indicators
Measurement issues are likely to play an important role in this morning’s employment report. We think the unemployment rate is likely to fall in July, but the reasons for the decline would have nothing to do with broader economic activity. In the payroll data, private-sector employment is likely to rise again, but the drop in Census employment should result in another decline in the headline number. more »
Federal Reserve Operations & the Overnight Market
Fed Funds Monitor Fed funds data tables more »
Fed Data It was another quiet week for the Fed's balance sheet, as reserve balances were broadly in line with expectations. more »
Treasury Finance
Treasury cash flows table more »
The Money Market Observer
Monday, Aug 2 This week’s newsletter is a follow-up to last week’s discussion of the federal government’s borrowing needs in FY 2011. We expect the Treasury’s quarterly financing estimates on Monday afternoon to suggest that borrowing in the current quarter will be close to last year’s level, but that borrowing in the October-December period will be significantly above the year-ago level. This week’s issue also discusses prospective changes in the Treasury’s debt service cash-flow patterns in the coming quarters, which will sharply reduce the importance of the month-end note packages as a source of new cash for the government by early next year. more »
Daily Press Summary (pdf)
Inside Debt Daily for Friday, Aug 6 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 »
