Agenda
| Time | Indicator/Event | Comment |
| 09:45 | Freddie Mac bill auction | $4 billion in 3- and 6-month bills |
| 10:15 | Fed Treasury coupon purchase | August 2016 to May 2020 maturities |
| 11:00 | 4-week and 8-week SFP bill announcement | Reduction in 4-week offering expected |
| 11:30 | 3- and 6-month bill auction | $29 billion each |
| 12:30 | Lockhart (FOMC non-voter) | Moderator for British ambassador Q & A |
| 14:00 | Fed outright Treasury purchase announcement | Announcement of tentative operation schedule for the coming month |
| 14:00 | US budget | CBO anticipates a $95 billion deficit |
The Money Market Observer
Monday, Sep 13 The TIPS market got a lift at the end of the week from reports that the major benchmark indexes might be expanded to include inflation-indexed bonds. The prospects for the inclusion of TIPS are uncertain, as is the likely timeframe for any such change. If TIPS are eventually added to the index, it is likely that the index managers would take care to minimize any disruptions for index end-users in making the transition. At the margin, the inclusion of real return bonds in the major indexes might make the Treasury even more ambitious in its planned expansion of 5-year TIPS issuance in 2011. more »
Economic Indicators
The highlights of this week’s calendar are retail sales tomorrow, industrial production on Wednesday and the PPI and CPI on Thursday and Friday. Retail sales should be fairly strong, but industrial production will soften after a strong July performance. Energy prices will boost the overall indexes in the PPI and CPI reports, but we have no reason to expect the core indexes to accelerate. There are no major reports on today’s schedule. more »
Federal Reserve Operations & the Overnight Market
Fed Open Market Operations The Fed is due to publish its schedule of purchases for the September-October period this afternoon at 2:00. The Fed’s purchase target for the coming monthly cycle is likely to be $30 billion or more, versus $18 billion for the cycle that is being wrapped up today. (The Desk will buy $3.7 billion of securities in the 6- to 10-year sector this morning in the final operation in the monthly schedule announced on August 11.) more »
Fed Funds Monitor Fed funds data tables more »
Treasury Finance
The Treasury has a light week ahead of it. No coupon issues will be auctioned or announced this week. The only item on tap other than the regular weekly bills is a year-bill announcement on Thursday. more »
Daily Press Summary (pdf)
Inside Debt Daily for Monday, Sep 13 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 »
