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Getting Back to Normal, For a Few Days Anyway
Getting Back to Normal, For a Few Days Anyway
After a decidedly abnormal 6 weeks beginning in early October, bonds began to calm down last week. This offered some hope that the brisk volatility and selling pressure was subsiding. With 10yr yields closing inside a 3bp range for 5 days in a row, the restoration of normality is basically confirmed. Today's data didn't have a big impact, but we wouldn't expect it to (based on the mixed signals). Bonds continue waiting on early December data for the next big push in one direction or the other. The upcoming week is always a bit of a wild card due to the holiday and month-end, but the fact remains that there are no truly top tier market movers.
Getting Back to Normal, For a Few Days Anyway
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Nov 25 | |||||
| 8:30AM | Oct National Activity Index | Oct | -0.28 | ||
| 10:30AM | Nov Dallas Fed Manufacturing Index | Nov | -3 | ||
| 11:30AM | 26-Week Bill Auction (bl) | 81 | |||
| 11:30AM | 6-Month Bill Auction | 4.310% | |||
| 11:30AM | 3-Month Bill Auction | 4.420% | |||
| 11:30AM | 26-Week Bill Auction (bl) | 72 | |||
| 1:00PM | 52-Week Bill Auction (bl) | 40 | |||
| 1:00PM | 2-Year Note Auction | 4.130% | |||
| 1:00PM | 2-Yr Note Auction (bl) | 69 | |||
| 1:00PM | 30-Day Bill Auction (%) | ||||
| Tuesday, Nov 26 | |||||
| 8:00AM | Oct Building permits: number (ml) | Oct | 1.416M | 1.425M | |
| 8:00AM | Oct Build permits: change mm (%) | Oct | -0.6% | -3.1% | |
| 8:55AM | Nov/23 Redbook yy (%) | Nov/23 | 5.1% | ||
| 9:00AM | Sep FHFA Home Price Index m/m (%) | Sep | 0.3% | 0.3% | |
| 9:00AM | Sep Case Shiller Home Prices-20 y/y (% ) | Sep | 4.9% | 5.2% | |
| 9:00AM | Sep House Price Index | Sep | 427.0 | ||
| 9:00AM | Sep FHFA Home Prices y/y (%) | Sep | 4.2% | ||
| 9:00AM | Sep CaseShiller 20 mm nsa (%) | Sep | -0.3% | ||
| 10:00AM | Oct New Home Sales (%) (%) | Oct | 4.1% | ||
| 10:00AM | Oct New Home Sales (ml) | Oct | 0.73M | 0.738M | |
| 10:00AM | Nov Rich Fed, services index | Nov | 3 | ||
| 10:00AM | Nov CB Consumer Confidence (%) | Nov | 111.6 | 108.7 | |
| 10:00AM | Nov Rich Fed comp. index | Nov | -10 | -14 | |
| 10:00AM | Nov Rich Fed manuf shipments | Nov | -8 | ||
| 10:30AM | Nov Dallas Fed Services Index | Nov | 2.0 | ||
| 10:30AM | Nov Dallas Fed Services Revenues Index | Nov | 9.2 | ||
| 11:00AM | Oct Money Supply | Oct | $21.22T | ||
| 11:30AM | 26-Week Bill Auction (bl) | 80 | |||
| 11:30AM | 52-Week Bill Auction | 4.100% | |||
| 11:30AM | 52-Week Bill Auction (bl) | 48 | |||
| 1:00PM | 2-Yr Note Auction (bl) | 28 | |||
| 1:00PM | 2-Year FRN Auction (%) | 0.205% | |||
| 1:00PM | 5-Year Note Auction | 4.138% | |||
| 1:00PM | 5-Yr Note Auction (bl) | 70 | |||
| 2:00PM | FOMC Minutes | ||||
| 4:30PM | Nov/22 API weekly crude stocks (ml) | Nov/22 | 4.753M | ||
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