Overview: Mon, June 05

Daily Agenda

Time Indicator/Event Comment
10:00ISM services PMILittle change expected in May
10:00Factory ordersSmall increase in April
11:3013- and 26-week bill auction$65 billion and $58 billion respectively
13:00CMB auction $50 billion of 44-day bills
13:30Mester (FOMC non-voter)
Gives opening remarks at Cleveland Fed conference

US Economy

Federal Reserve and the Overnight Market

Treasury Finance

This Week's MMO

  • MMO for June 5, 2023


    The Treasury’s CMB announcements on Friday morning signalled a faster TGA build-up in the second half of June than we assumed a week ago.  This week's 4- and 8-week bill announcements on Tuesday should shed some additional light on the Treasury’s strategy for the rest of the month.  Also, this week’s MMO discusses the debt ceiling outlook for 2025 -- because it’s never too early to start speculating about the next X-date.

MMO Analysis