Overview: Thu, April 27

Daily Agenda

Time Indicator/Event Comment
08:30Advance international tradeWider goods deficit in March
08:30Durable goodsAircraft-led increase expected in March
08:30Jobless claimsLittle change expected
10:00Pending home salesSmall March pullback after big February increase
11:003- and 6-month bill announcementA possible increase in both maturities
11:00Kansas City Fed indexDown a little from last month's very strong reading
13:007-yr note auctionAnother $28 billion offering

US Economy

  • Economic Indicator Preview for Thursday, April 27, 2017

    The main focus in this morning’s weekly jobless claims report will be on continuing claims, where another low reading could necessitate a downward revision to our forecast for the April unemployment rate.   In other major reports on today’s calendar, we expect the advance trade snapshot to show an increase in the nominal goods deficit in March, and we expect the advance durable goods report to show an aircraft-led rise in new orders for that month.  The pending home sales index may reverse a small part of February’s big increase and the Kansas City Fed factory index may be down a little from last month’s strong reading.

Federal Reserve and the Overnight Market

Treasury Finance

This Week's MMO

  • MMO for April 24, 2017

    This week’s advance Q1 GDP report should be quite weak and largely irrelevant.  It is at times like this that we are reminded of an important truth:  friends don’t let friends pay attention to quarterly GDP data.  Also, a brief digression on the possibility of a government shutdown this weekend.  The Treasury’s auction schedule would not be affected, but next week’s economic data releases (including the employment report) could be delayed if Congress can’t reach a compromise.

MMO Analysis