Agenda
| Time | Indicator/Event | Comment |
| 09:45 | Freddie Mac bill auction | $3 billion 2-part auction |
| 10:00 | TAF auction | $50 billion 28-day operation |
| 11:00 | 4-week bill announcement | Another large increase |
| 11:30 | 3- and 6-month bill auction | $1 billion increase in each maturity, $51 billion offering |
| 19:20 | Dudley (FOMC voter) | At the Reserve Bank of Australia |
The Money Market Observer
Monday, Feb 8 The more stringent liquidity requirements for money market funds that will take effect this spring should boost demand for the very short-term instruments that qualify for the new daily and weekly liquidity buffers. By themselves, the new SEC rules would probably have only a modest impact on the shape of the money market yield curve. However, they are only part of a general regulatory effort to impose tougher liquidity guidelines on the financial sector. This regulatory philosophy is likely to put upward pressure on term premiums across the yield curve as the recovery unfolds. more »
Economic Indicators
The retail sales report on Thursday will be the highlight of this week's calendar. Based on last week's unexpectedly strong chain store results, we look for an above-trend increase in retail sales for January. Other major indicators include tomorrow's small business optimism index, Wednesday's international trade report, Thursday's jobless claims data and Friday's Reuters/University of Michigan consumer sentiment report. No major indicators are due out today. more »
Federal Reserve Operations & the Overnight Market
Fed Open Market Operations The Fed will hold a $50 billion 28-day TAF auction today. Like all of its predecessors for the past year, this operation is likely to be significantly under-subscribed. One area of interest in the auction results that will be released tomorrow is the number of bidders, which spiked in the last auction in January. We believe that the increase in the number of individual bank participants last month reflects the fact that bidding pools from TAF auctions of different maturities were consolidated in that operation. more »
Fed Funds Monitor Fed funds data tables more »
Treasury Finance
This week's Treasury calendar is dominated by the refunding auctions, which begin tomorrow. Today's agenda, however, is limited to the bill sector. The Treasury will sell $51 billion of 3- and 6-month bills at 11:30, and will announce the terms of tomorrow's 4-week bill auction at 11:00. more »
Daily Press Summary (pdf)
Inside Debt Daily for Monday, Feb 8 The Inside Debt Daily provides relevant market news and market segment commentary from Thomson Reuters and data from ICAP and Wrightson ICAP in a take-home, easy-to-read format highlighting key developments which could impact the capital markets the ensuing trading day. Download a PDF file of the most recent report now. go »
Daily Press and Pricing Archive go »
