|07:00||MBA mortgage prch. index||Seasonal increase in latest week|
|08:30||Durable goods||Moderate increase in December, boosted by aircraft|
|11:30||15- and 22-week CMB auction||$25 billion and $30 billion respectively|
|13:00||2-yr FRN auction||$28 billion offering|
|14:00||FOMC meeting announcement||No change in balance sheet plans|
|14:30||FOMC press conference||Patience is still a virtue; Powell likely to stress that policy will remain supportive for an extended period|
The December durable goods report will be released at 8:30 this morning.
Today's updated operational schedule:
Treasury Coupon Purchases
11:30 am: 15- and 22-week CMB auctions
1:00 pm: 2-year FRN auction
This week’s newsletter features a refresher course on the repo-market impact of GSE cash flows in the latter part of each month, along with a discussion of the outlook for the effective fed funds rate in the weeks ahead.