Agenda
| Time | Indicator/Event | Comment |
| 07:00 | MBA mortgage prch. index | Purchase index may see a seasonal increase |
| 09:45 | Fannie Mae bill auction | $2 billion 2-part auction |
| 11:30 | 4-week & 8-week SFP bill auctions | $1 billion increase in the 4-week maturity |
| 13:00 | 10-yr (r) note auction | Unchanged at $21 billion |
| 14:00 | Beige book | Are fiscal and regulatory uncertainties still a drag? |
| 14:30 | Kocherlakota (FOMC voter) | On FOMC |
| 15:00 | Treasury investor class auction data | Full August data |
| 15:00 | Consumer credit | Sixth consecutive decline in July? |
| Weekly chain store surveys | The weather didn't help | |
| Freddie Mac note announcement | Monthly scheduled announcement | |
| Reserve maint. period ends |
Intraday Updates
[7:00 Data] The MBA's purchase index showed a small seasonal bounce in the week before Labor Day. As noted this morning, this is likely to turn out to be a short-lived quirk in the data.
[14:00 Release] The Fed's beige book characterized growth as softer but still positive, with the slowdown concentrated in the East and the Midwest. more »
Economic Indicators
There is little on today’s statistical calendar. The weekly MBA mortgage application data need to be interpreted with care this morning. If the purchase index rises, it would likely prove to be a temporary seasonal phenonomenon. more »
Fed Policy
The beige book prepared for the September 21 FOMC meeting will have “soft patch” overtones but will probably stop short of pointing to a double dip. That kind of outlook would keep the Fed on hold in September, but not necessarily at subsequent meetings. more »
Federal Reserve Operations & the Overnight Market
Fed Open Market Operations The ECB may see a negligible amount of demand in its weekly dollar liquidity operation again this week. more »
Fed Funds Monitor Fed funds data tables more »
Treasury Finance
The Treasury will sell both its 4-week bill and its 8-week SFP bill at 11:30 this morning, and will sell $21 billion of reopened 10-year notes at 1:00. more »
The Money Market Observer
Monday, Sep 6 One of the many changes resulting from this summer’s financial reform bill will be a major overhaul of FDIC deposit insurance premiums. The assessment base for deposit insurance premiums will be expanded to include all assets (net of tangible equity) of domestic banks. At the same time, the FDIC is designing a new, more sophisticated formula for calculating premiums for large banks that will enable it to better match insurance fees with the risks that individual institutions pose to the deposit insurance fund. The changes are certain to alter the relative costs of different forms of bank funding, but the precise impact will be difficult to predict until more specifics are announced. Fed funds are one sector that could be affected significantly. Depending on the details, the new framework could push the overnight effective funds rate farther below the interest rate on excess reserves. more »
Daily Press Summary (pdf)
Inside Debt Daily for Wednesday, Sep 8 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 »
