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Overview: Mon, September 16

Daily Agenda

Time Indicator/Event Comment
08:30Empire State mfgLittle change from last month's mildly negative reading
11:00Treasury buyback announcement (liq support)TIPS 7.5Y to 10Y
11:3013- and 26-wk bill auction$76 billion and $70 billion respectively

US Economy

Federal Reserve and the Overnight Market

This Week's MMO

  • MMO for September 9, 2024

    Friday’s nonfarm payroll data were significantly weaker than we expected.  Not only was aggregate payroll growth in recent months slower but it was less broad-based across different industries than earlier in the year. We still think the Fed is likely to cut rates by just a quarter-point next week, but it looks like a closer call than we anticipated.

MMO Analysis