| Time | Indicator/Event | Comment |
|---|---|---|
| 09:00 | S&P CoreLogic Case-Shiller HPI | Another big decline likely in September |
| 09:00 | FHFA house price index | Another big decline likely in September |
| 10:00 | Consumer confidence | Little change expected this month |
| 11:00 | 4-, 8- and 17-week bill announcement | No changes expected |
| 11:30 | Year-bill auction | $34 billion offering |
| 14:00 | Fed disc rate minutes | New York, Philadelphia and Kansas City did not initially request a 75 bp hike in November |
Economic Indicator Preview for Tuesday, November 29, 2022
Treasury Highlights for Tuesday, November 29, 2022
The Treasury last week hunkered down some more in preparation for debt ceiling constraints in December. We’re still uncertain whether the Treasury might be able to take advantage of “extraordinary” accounting measures in the coming weeks, but its actions thus far suggest that it is preparing for the possibility (or likelihood?) that it might have to live within the constraints of the current debt limit for some time to come. We may get more clarity this week. Our guess is that the Treasury will announce a new CMB ON Thursday to replace the 16-day bill that is running off on December 8. The size and tenor of any new CMB may give us some sense of how the Treasury views the debt-limit constraints it faces between now and January.
