| Time | Indicator/Event | Comment |
|---|---|---|
| 10:00 | Wholesale inventories | Small increase expected in October |
| 11:00 | Treasury buyback announcement (cash mgmt) | Nominal coupons 1M to 2Y |
| 11:00 | FRBNY survey of consumer expectations | May not mirror the deterioration in the Michigan survey |
| 11:30 | 13- and 26-wk bill auction | $81 billion and $72 billion respectively |
| 14:00 | Treasury buyback (liq support) | Nominal coupons 7Y to 10Y |
| 15:00 | Treasury investor class auction data | Full November data |
Economic Indicator Preview for Monday, December 9, 2024
Treasury Highlights for Monday, December 9, 2024
The outlook for next week’s FOMC meeting remains uncharacteristically uncertain – at least in our view. The rate-cut odds priced into the market seem out of step with the underlying message in the economic data and we’re not entirely certain how that disconnect will be resolved. Also, this week’s MMO revisits the outlook for an RRP rate tweak in the months ahead. We suggested last week that no adjustments were likely in the immediate future. After a lot of nudging from readers, we’ve taken another look at the issue.
