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Overview: Tue, July 27

Daily Agenda

Time Indicator/Event Comment
08:30Durable goodsSolid increase expected in June
09:00S&P CoreLogic Case-Shiller HPI No letup in house price gains in May
09:00FHFA house price indexNo letup in house price gains in May
10:00Consumer confidenceMild pullback expected this month
10:00Richmond Fed indexManufacturing surveys remain generally strong
11:001- and 2-month bill announcementNo changes expected
11:0017-week CMB announcementNo changes expected
11:306-week CMB auction$20 billion offering
13:005-yr note auction$61 billion offering

US Economy

  • Economic Indicator Preview for Tuesday, July 27, 2021

    The June durable goods report is scheduled for 8:30 this morning, and the May house price indexes (Case-Shiller and FHFA) will follow at 9:00.  This month’s editions of the consumer confidence index and the Richmond Fed manufacturing index will be released at 10:00.

Federal Reserve and the Overnight Market

Treasury Finance

This Week's MMO

  • MMO for July 26, 2021

    The Treasury officially kicked off this summer’s debt ceiling festivities late on Friday afternoon when it informed Congress that it would have to suspend the sale of state and local government securities at the end of this week and invoke “extraordinary measures” next Monday. This week’s newsletter updates our estimates of the amount of borrowing authority the Treasury is likely to have available in the months ahead and the size of the bill paydowns that will be required if Congress is slow to act.  We also provide a brief recap of earlier comments about the prospects for news on the Fed taper front in this week’s FOMC announcement.)

MMO Analysis