This is a very big week for economic data but the majority of the data is concentrated in just two days: Wednesday and Thursday. There are no major Treasury auctions this week.
Talking Feds: There will be a speech by either a voting or a non-voting member every day this week:
Monday: William Dudley, Charles Plosser
Tuesday: Narayana Kocherlakota, Charles Evans and Jacob Lew (U.S. Treasury Secretary, not part of the Fed)
Wednesday: Ben Bernanke, James Bullard
Thursday: Jeff Lacker
Friday: Esther George
The bond market will react strongly to the overall sentiment towards a taper from their speeches.
The biggest events this week will be the release of the minutes from the last FOMC meeting, Retail Sales, Existing Home Sales and Initial Weekly Jobless Claims. PPI and CPI are always very important but there has been very little reaction to these reports lately as inflation is low and expected to be low for some time.
What is on the agenda for this week?
|
Date |
Time (ET) |
Economic Release |
Market Expects |
Prior |
|
18-Nov |
9:00 AM |
Net Long-Term TIC Flows |
NA |
-$8.9M |
|
18-Nov |
10:00 AM |
NAHB Housing Market Index |
55 |
55 |
|
19-Nov |
8:30 AM |
Employment Cost Index |
0.50% |
0.50% |
|
20-Nov |
7:00 AM |
MBA Mortgage Index |
NA |
-1.80% |
|
20-Nov |
8:30 AM |
Retail Sales |
0.10% |
-0.10% |
|
20-Nov |
8:30 AM |
Retail Sales ex-auto |
0.10% |
0.40% |
|
20-Nov |
8:30 AM |
CPI |
0.00% |
0.20% |
|
20-Nov |
8:30 AM |
Core CPI |
0.20% |
0.10% |
|
20-Nov |
10:00 AM |
Existing Home Sales |
5.20M |
5.29M |
|
20-Nov |
10:00 AM |
Business Inventories |
0.40% |
0.30% |
|
20-Nov |
10:30 AM |
Crude Inventories |
NA |
2.640M |
|
20-Nov |
2:00 PM |
FOMC Minutes |
– |
– |
|
21-Nov |
8:30 AM |
Initial Claims |
333K |
339K |
|
21-Nov |
8:30 AM |
Continuing Claims |
2863K |
2874K |
|
21-Nov |
8:30 AM |
PPI |
-0.20% |
-0.10% |
|
21-Nov |
8:30 AM |
Core PPI |
0.10% |
0.10% |
|
21-Nov |
10:00 AM |
Philadelphia Fed |
11.9 |
19.8 |
|
21-Nov |
10:00 AM |
Leading Indicators |
NA |
0.70% |
|
21-Nov |
10:30 AM |
Natural Gas Inventories |
NA |
20 bcf |
|
22-Nov |
10:00 AM |
JOLTS – Job Openings |
NA |
3.883M |