|08:15||Fed 28-day term RP operation||$15 billion offering maturing on January 6|
|11:00||Fed outright TIPS purchase||$1.625 purchase of TIPS with remaining maturites of 7.5 to 30 years|
|11:00||Survey of consumer expectations|
|11:30||3- and 6-month bill auction||Unchanged at $42 billion and $36 billion respectively|
|11:30||3-yr note auction||Steady at $38 billion|
|15:00||Treasury investor class auction data||Full November data|
The job market seems to be holding up well, and we don’t expect the November employment report to drastically alter the outlook. Our forecast calls for an increase of 210K in overall payrolls, and the unemployment rate seems likely to hold steady at 3.6%. We think the University of Michigan consumer sentiment index will remain slightly above its year-to-date average in this morning’s preliminary report for December.
Today’s Fed purchase: $7.525 billion in bills
Befitting the week following Thanksgiving, this issue of the MMO features a couple of leftover items from November. We have a quick follow-up on our most recent monthly money fund chartbook, and we take a look at the Q3 data on the foreign official repo pool from the quarterly financial statements released by the Fed last month.