Agenda
| Time | Indicator/Event | Comment |
| 08:30 | Jobless claims | Modest improvement? |
| 08:30 | Productivity | Year-over-year growth rate decelerates again |
| 09:00 | Evans (FOMC non-voter) | More easing is needed |
| 10:00 | Bernanke @ House Budget Committee | More easing is possible |
| 10:15 | Fed Treasury coupon purchase | February 2020 to November 2021 maturities |
| 11:00 | 3- and 6-month and year-bill announcement | $1 billion increase in each maturity possible |
| 19:15 | Fisher (FOMC non-voter) | More easing would be unwise |
| Chain store sales | Sluggish year-over-year gains |
Intraday Updates
[8:30 Data] Continuing unemployment insurance claims resumed their descent in the latest week, pointing to a lower reported unemployment rate. Q4 productivity growth held up slightly better than expected, but unit labor costs rose anyway due to higher compensation growth.
[Chain Store Sales] Chain store sales rose much more than expected, and point to a solid retail sales report for January. more »
Economic Indicators
The flow of economic data will slow a little bit today in advance of tomorrow’s employment report. Jobless claims and productivity are due at 8:30, and chain store sales for January are due out over the course of the morning. more »
Federal Reserve Operations & the Overnight Market
Fed Open Market Operations The Desk will conduct the first of this month’s three purchases in the 8- to 10-year maturity range this morning. more »
Fed Funds Monitor Fed funds data tables more »
Treasury Finance
The Treasury will announce next week’s year-bill along with the 3- and 6-month bills this morning. Our guess is that each of the three offering sizes will rise by $1 billion. more »
The Money Market Observer
Monday, Jan 30 One of the lessons from last week’s FOMC statement is that more information doesn’t always result in greater clarity. The inclusion of explicit rate forecasts in the FOMC’s quarterly economic projections was supposed to make the policy process more transparent, but the FOMC in the end decided that the market would need some help from the policy statement to interpret the new information correctly. We cannot be sure at this point exactly why the Fed was reluctant to allow the data to speak for themselves, but it is possible that the FOMC was conscious of the limitations of consensus-style surveys as a gauge of collective expectations. more »
Daily Press Summary (pdf)
Inside Debt Daily for Thursday, Feb 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 »
