|09:00||FHFA house price index||55th straight monthly increase in August|
|09:00||S&P CoreLogic Case-Shiller HPI||August should see first increase since March|
|10:00||Consumer confidence||Should pull back a bit from very strong September reading|
|10:00||IBD/TIPP economic optimism index||Little change expected in this month's belated survey|
|10:00||Richmond Fed index||May hold steady in negative territory this month|
|11:30||4-week bill auction||$5 billion increase to $50 billion|
|13:00||2-yr note auction||22nd consecutive $26 billion offering|
|13:20||Lockhart (FOMC non-voter)||On community development|
The Case-Shiller and FHFA home price indexes are both expected to rise in today’s August reports, while the Conference Board’s consumer confidence index for October seems likely to retreat from last month’s nine-year high. The Richmond Fed’s manufacturing index is expected to remain in negative territory.
Today’s bill auction: 4-week bills
Today’s coupon auction: 2-year notes
The Treasury has asked for market feedback on the possibility of replacing its monthly 7-year note auctions with a combination of quarterly new issues and scheduled reopenings. Our guess is that any such shift would leave the aggregate supply of new 7-year notes essentially unchanged, while allowing the Treasury to improve liquidity in that sector by concentrating the existing supply in fewer CUSIPs.