|08:30||Housing starts||Single-family flat to up slightly in September, multi-family down|
|11:00||1- and 2-month bill announcement||Likely unchanged at $25 billion apiece|
|11:00||17-week CMB announcement||Another $35 billion offering expected|
|11:00||Daly (FOMC voter)||Gives introductory remarks at regional bank forum|
|11:30||CMB auction||$60 billion of 40-day bills|
|12:15||Barkin (FOMC voter)|
Participates in South Carolina Chamber of Commerce event
|14:00||Fed disc rate minutes||No change in rate policy recommended|
|14:50||Bostic (FOMC voter)||Discusses long-term unemployment|
|15:00||Waller (FOMC voter)||On the economic outlook|
September data on housing starts and building permits will be released at 8:30 this morning.
Today's Treasury coupon purchase schedule:
Our newsletter is devoted to debt-ceiling/CMB minutiae again this week. The Treasury on Friday afternoon confirmed that it had only $181 billion of conventional borrowing authority left after repaying its previous “extraordinary measures” last week, which probably means that it will have to invoke another round of accounting adjustments by early November. The Treasury is making use of last week’s debt ceiling increase to issue a collection of relatively short-dated CMBs in October. That will almost certainly require it to issue another set of CMBs in late November and early December – probably with somewhat longer maturities.