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Overview: Mon, September 25

Daily Agenda

Time Indicator/Event Comment
08:30Dudley (FOMC voter)

On workforce development

08:30Chicago Fed NAI
10:30Dallas Fed manufacturing survey
11:004-week bill announcementAn unchanged $35 billion offering expected
11:303- and 6-month bill auctionSteady at $42 billion and $36 billion respectively
12:40Evans (FOMC voter)On economy and economic policy
18:30Kashkari (FOMC voter)At Townhall meeting

US Economy

  • Capsule Economic Indicator Summaries for the Week of September 25, 2017

    A variety of housing, consumer sentiment and regional factory indexes are scheduled to be released over the course of the week.  The highlights of the economic data calendar come toward the end of the week, however, with third estimate of Q2 GDP (likely to be revised higher once again) on Thursday and PCE and PCE prices (weak consumption but above-trend inflation) on Friday.  Today’s schedule includes the Chicago Fed national tracking index and the Dallas Fed manufacturing survey.  We will keep an eye out for hurricane effects in both reports.

This Week's MMO

  • MMO for September 18, 2017

    It is a foregone conclusion that the Fed will leave rates on hold but announce the beginning of its balance sheet runoff at this week’s FOMC meeting.  The big question is how the Fed will frame the debate over the possibility of a third rate hike in December.  We assume that Chair Yellen will want to keep her options open at this point.  As long as the Fed does nothing to take a rate hike off the table this week, the market in the near term may continue to bump up the implied odds of another move by year-end.

MMO Analysis