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Overview: Tue, April 23

Daily Agenda

Time Indicator/Event Comment
09:00FHFA house price index85th straight monthly increase in February
10:00New home salesExpect a reversal of surprising February jump
10:00Richmond Fed indexSteady this month
11:001- and 2-month bill announcementNo changes expected
11:30Year-bill auctionUnchanged at $26 billion
13:002-yr note auctionUnchanged at $40 billion

US Economy

  • Economic Indicator Preview for Tuesday, April 23, 2019

    We think the FHFA house price index will post its biggest monthly increase in a year in today’s February report. The new home sales index seems likely to pull back from the previous month’s 11-month high in March. We expect the tone of the Richmond Fed manufacturing survey to be little changed this month.

Treasury Finance

This Week's MMO

  • MMO for April 22, 2019

    This week’s newsletter covers a grab-bag of topics: the prospects for a deceleration in the core PCE price index in this Friday’s GDP report; an update on tax receipts midway through the peak processing season; and the unexpectedly severe upward pressure on overnight rates last week (and the ongoing discussion of a Fed repo backstop facility.)

MMO Analysis