Time | Indicator/Event | Comment |
---|---|---|
06:00 | NFIB index | Expect a partial reversal of December's jump |
08:50 | Hammack (FOMC non-voter) | On the economic outlook |
10:00 | Powell (FOMC voter) | Delivers semi-annual testimony to Senate Committee on Banking, Housing and Urban Affairs |
11:00 | 4-, 8- and 17-wk bill announcement | Possible ad hoc CMB |
11:00 | Treasury buyback announcement (liq support) | Nominal coupons 1M to 2Y |
11:30 | 6-wk bill auction | $84 billion offering |
13:00 | 3-yr note auction | $58 billion offering |
15:30 | Williams (FOMC voter) | Speaks at Pace University |
15:30 | Bowman (FOMC voter) | At bankers conference in Iowa |
Economic Indicator Preview for Tuesday, February 11, 2025
Treasury Highlights for Tuesday, February 11, 2025
The February quarterly refunding announcement was relatively uneventful, which was a rarity in the Treasury’s broader orbit last week. There were, however, a few points of interest. The Treasury signaled that coupon offering sizes were likely to remain on hold at least until early 2026. It also warned that debt ceiling constraints might continue to lead to increased volatility in bill supplies in the near term. In light of that guidance, we now expect another off-cycle CMB announcement in the coming week or two.