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Overview: Tue, July 07

Daily Agenda

Time Indicator/Event Comment
07:00Bowman (FOMC voter)
Gives opening remarks
08:30International tradeMuch wider deficit in May
09:20Fed bill purchase4- to 12-month maturities
10:00RCM/TIPP economic optimism index Flat to up slightly in early July
11:004-, 8- and 17-wk bill announcementIncreases in the 4- and 8-week offerings expected
11:00FRBNY survey of consumer expectations Long-term inflation expectations remain well-behaved
11:306- and 52-wk bill auction$90 billion and $52 billion respectively
13:003-yr note auction$58 billion offering
15:00STRIPS dataJune data

Federal Reserve and the Overnight Market

Treasury Finance

US Economy

This Week's MMO

  • MMO for July 6, 2026

    Individual FOMC members have been speaking less in recent weeks than in the past, but the market won't be starved for Fed news this month.  That’s a good thing.  Providing the markets with conditional insight into the Fed’s reaction function can enhance both price discovery and policy effectiveness.  Also, we had not planned to revisit the tariff refund outlook again as soon as this week, but a massive outflow on June 29 changed our plans. 

MMO Analysis