Agenda
| Time | Indicator/Event | Comment |
| 08:30 | Jobless claims | Toyota layoffs are the latest reason for high claims |
| 08:30 | Continuing claims | Continuing claims appear to be leveling out |
| 11:00 | 3- and 6-month bill announcement | One last set of increases? |
| 13:00 | 30-yr bond auction | Unchanged at $16 billion |
Intraday Updates
Initial claims for unemployment insurance improved sharply this morning, reportedly because the level of reported filings fell from temporarily-inflated levels to a "normal" pace of new filings. The number of continuing claims also came in below expectations this morning. more »
Economic Indicators
Due to severe weather, the retail sales and business inventory reports that were originally scheduled to be released this morning have been postponed until tomorrow. As a result, the only major indicator on today’s calendar is the weekly jobless claims report at 8:30. Even though the claims data will be released on time, the advance numbers may include estimated totals for more states than usual. more »
Fed Policy
Bernanke’s exit strategy testimony yesterday did not break much new ground, but gave us a little more color about how the Fed envisions using the tools it has been crafting in recent months. Bernanke did not address the question of when the rate hike process might begin (or even when the “extended period”: guidance might be modified). However, he did suggest that the Fed would start to clean up the reserves market before officially raising its interest rate target, which would tend to nudge short-term rates slightly higher even before the “tightening” officially begins. more »
Federal Reserve Operations & the Overnight Market
Fed Open Market Operations The Desk will conduct this week’s GSE coupon pass this morning, perhaps to avoid a thin market going into the holiday weekend tomorrow. more »
Fed Funds Monitor Fed funds data tables more »
Treasury Finance
The Treasury will announce the terms of next week’s 3- and 6-month bills this morning at 11:00, and it will wrap up its mid-quarter refunding operation with the sale of $16 billion of new 30-year bonds this afternoon at 1:00. more »
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 »
Daily Press Summary (pdf)
Inside Debt Daily for Thursday, Feb 11 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 »
