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Overview: Mon, August 26

Daily Agenda

Time Indicator/Event Comment
08:30Durable goodsModerate increase in July
08:30Chicago Fed NAIEight straight below-trend reading in July
10:30Dallas Fed manufacturing surveyLittle change expected this month
11:00Fed outright Treasury coupon purchase$2.225 billion purchase covering 3- to 4.5-year maturities
11:303- and 6-month bill auction

US Economy

This Week's MMO

  • MMO for August 19, 2019

    The market will have its hands full with Fed news this week.  The FOMC minutes on Wednesday may include a progress report on the Fed’s internal discussion over the possibility of a standing repo facility.  Chair Powell’s Friday morning speech on monetary policy challenges will probably take a step back from current market turbulence and focus on more conceptual issues, but it’s difficult to disentangle the short- and long-run outlooks completely at present.  Separately, this week’s issue includes a quick note on June 30 holdings of reserve balances at large domestic banks (there’s a new name atop the leaderboard) and our regular monthly money fund repo chartbook.

MMO Analysis