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Overview: Wed, September 19

Daily Agenda

Time Indicator/Event Comment
07:00MBA mortgage prch. indexFlat to somewhat higher in latest week
08:30Housing startsShould rebound in August
08:30US current accountMuch smaller deficit in Q2

US Economy

Federal Reserve and the Overnight Market

This Week's MMO

  • MMO for September 17, 2018

    A number of FOMC members in recent weeks have weighed in on the debate over the importance of yield curve signals for the monetary policy outlook.  While they are uniformly respectful of the forecasting track record of yield curve indicators, most FOMC members are reluctant (for now) to commit to a “no-inversion” rule.  We have a lot of sympathy for that view.  It may well be true that “this time is different” are the four most dangerous words in finance, but assuming that the future will be exactly the same as the past can be nearly as hazardous.  

MMO Analysis