Agenda
| Time | Indicator/Event | Comment |
| 08:30 | Jobless claims | Little change |
| 08:30 | Continuing claims | Little change |
| 08:30 | Productivity | Steeper decline |
| 09:00 | Rosengren and Pianalto (FOMC voters) | At neighborhood housing summit in Washington |
| 10:00 | Factory orders | Flat or up slightly |
| 10:00 | Pending home sales | Small decline in July? |
| 11:00 | 3- and 6-month bill announcement | Small reduction possible |
| 11:00 | 3-yr, 10-yr (r) and 30-yr (r) coupon announcement | Reduction in 3-year likely |
| 13:00 | 10-yr TIPS (r) auction | $10 billion offering |
| Chain store sales | Up 3% year-over-year |
Intraday Updates
[8:30 Data] Initial jobless claims were not very different from the market's guess, but the number of federal beneficiaries was lower than anticipated. The Monster employment index was very weak in August. Nonfarm productivity was in line with expectations.
[10:00 Data] The trough for pending home sales turned out to be a little higher than we expected. The factory orders report produced no major surprises.
Chain store sales came in slightly above expectations on a year-over-year basis, but the surprise was not large enough to change our retail sales forecasts. more »
Economic Indicators
This morning’s calendar features a number of monthly and quarterly indicators, but the weekly jobless claims report is likely to overshadow them all. The also-rans include productivity at 8:30, pending home sales and factory orders at 10:00 and chain store sales over the course of the morning. more »
Federal Reserve Operations & the Overnight Market
Fed Open Market Operations Excess reserve forecast table more »
Fed Funds Monitor Fed funds data tables more »
Treasury Finance
The Treasury has a busy schedule today. It will announce the terms of its mid-month coupon auctions along with the regular 3- and 6-month bills at 11:00, and will sell $10 billion of reopened 10-year TIPS at 1:00. more »
The Money Market Observer
Monday, Aug 30 Chairman Bernanke on Friday embraced a new kind of terminology in discussing the Fed’s options for responding to disappointing economic data. The Fed in recent years has generally relied on a risk management paradigm to analyze the use of its conventional tools. In his Jackson Hole speech, Bernanke adopted a cost-benefit framework instead. For now, the Fed thinks the costs of each of the major policy options available to it outweigh the benefits in the current environment. If economic conditions were to deteriorate, the benefits of certain policy options would grow and the costs might decline. more »
Daily Press Summary (pdf)
Inside Debt Daily for Thursday, Sep 2 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 »
