This is a much lighter week for economic data, with the biggest reports (Retail Sales and Initial Jobless Claims) not hitting until Thursday.
Treasury Auctions:
12/10 – 3 Year Note
12/11 – 10 Year Note
12/12 – 30 Year Bond
Talking Feds:
12/09 – Lacker, Bullard, Fisher
12/11 – Treasury Sec. Lew
Across the Pond: Both Spanish and Italian bond yields rose for the second straight trading session due to a report showing that investor confidence in the euro region held near an 18 month high. This is something that could pressure MBS pricing this week if that trend continues. Offsetting that is a report that German industrial output fell.
The market expectation that the Fed will begin to taper soon has increased.
There are no major economic reports today, but there will be the three “Talking Feds” later in the afternoon. Their comments won’t impact today’s trades but could impact tomorrow’s.
What is on the agenda for this week?
|
Date |
Time (ET) |
Economic Release |
Market Expects |
Prior |
|
10-Dec |
10:00 AM |
Wholesale Inventories |
0.30% |
0.40% |
|
10-Dec |
10:00 AM |
JOLTS – Job Openings |
NA |
3.913M |
|
11-Dec |
7:00 AM |
MBA Mortgage Index |
NA |
-12.80% |
|
11-Dec |
7:00 AM |
MBA Mortgage Purchase Index |
NA |
-12.80% |
|
11-Dec |
10:30 AM |
Crude Inventories |
NA |
-5.585M |
|
11-Dec |
2:00 PM |
Treasury Budget |
NA |
-$172.1B |
|
12-Dec |
8:30 AM |
Initial Claims |
315K |
298K |
|
12-Dec |
8:30 AM |
Continuing Claims |
2750K |
2744K |
|
12-Dec |
8:30 AM |
Retail Sales |
0.60% |
0.40% |
|
12-Dec |
8:30 AM |
Retail Sales ex-auto |
0.30% |
0.20% |
|
12-Dec |
8:30 AM |
Export Prices ex-ag. |
NA |
-0.40% |
|
12-Dec |
8:30 AM |
Import Prices ex-oil |
NA |
0.00% |
|
12-Dec |
10:00 AM |
Business Inventories |
0.30% |
0.60% |
|
12-Dec |
10:30 AM |
Natural Gas Inventories |
NA |
NA |
|
13-Dec |
8:30 AM |
PPI |
-0.10% |
-0.20% |
|
13-Dec |
8:30 AM |
Core PPI |
0.10% |
0.20% |