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Overview: Wed, December 01

Daily Agenda

Time Indicator/Event Comment
07:00MBA mortgage prch. indexFlat to slightly higher in Thanksgiving week
08:15ADP national employment reportAnother solid increase in November
10:00ISM manufacturing PMI Little change expected in November
10:00Construction spendingMild decline likely in October
10:00Powell (FOMC voter)Testifies before House on CARES Act
11:3017-week and 8-day CMB auctions $40 billion apiece
14:00Beige bookCost pressures still rising amid supply constraints
Dom & imp. auto salesMild improvement from soft October level

US Economy

Federal Reserve and the Overnight Market

Treasury Finance

This Week's MMO

  • MMO for November 29, 2021

     

    The FOMC minutes on Wednesday suggested that the Fed had an open mind about accelerating the phase-out of its crisis asset purchases, but the market response to Omicron concerns on Friday suggested that the FOMC might want to bide its time before adjusting its taper timetable.  Separately, there wasn’t much debt ceiling news last week, but this week could be different.  Congressional efforts to avoid a government shutdown this weekend could affect the outlook for the timing of action on the debt limit.

MMO Analysis