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Weaker in Europe, But Reasonably Resilient in Early US Trading
Weaker in Europe, But Reasonably Resilient in Early US Trading
Not that any of this week's trading activity matters in the bigger picture, but things have been reasonably resilient after Monday's selling. Tuesday and Thursday saw more selling, but each day ended with a solid recovery. Thursday was especially solid with help from the 7yr Treasury auction. In today's overnight session, European markets reopened after the X-mas holiday with a moderate spike in yields. This pulled US yields higher, as is typically the case, but US traders (all 3-4 of them who are in the office today) are pushing back in early US trading.
Friendly Reversal Thanks to 7yr Treasury Auction
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Dec 27 | |||||
| 8:30AM | Nov Retail Inventories Ex Autos MoM Adv | Nov | 0.6% | 0.1% | |
| 8:30AM | Nov Wholesale inventories mm (%) | Nov | -0.2% | 0.2% | 0.2% |
| 8:30AM | Nov Goods Trade Balance Adv | Nov | $-102.86B | $-100.7B | $-99.08B |
| 10:30AM | Dec/20 Nat gas-EIA, change bcf | Dec/20 | -93Bcf | -99Bcf | -125Bcf |
| 1:00PM | Dec/20 Crude Oil Inventory (ml) | Dec/20 | -4.237M | -2M | -0.934M |
| 1:00PM | Dec/20 EIA Crude Oil Imports Change | Dec/20 | 0.995M | -1.131M | |
| 1:00PM | Dec/20 EIA Distillate Stocks Change | Dec/20 | -1.694M | -0.7M | -3.18M |
| 1:00PM | Dec/20 EIA Cushing Crude Oil Stocks Change | Dec/20 | -0.32M | 0.108M | |
| 1:00PM | Dec/20 EIA Distillate Fuel Production Change | Dec/20 | 0.178M | -0.135M | |
| 1:00PM | Dec/20 EIA Refinery Crude Runs Change | Dec/20 | 0.205M | -0.048M | |
| 1:00PM | Dec/20 EIA Gasoline Production Change | Dec/20 | 0.051M | -0.173M | |
| 1:00PM | Dec/20 EIA Heating Oil Stocks Change | Dec/20 | -0.062M | -0.304M | |
| 1:00PM | Dec/20 EIA Gasoline Stocks Change | Dec/20 | 1.63M | -1M | 2.348M |
| 1:00PM | Dec/27 Baker Hughes Oil Rig Count | Dec/27 | 483 | 483 | 483 |
| 1:00PM | Dec/27 Baker Hughes Total Rig Count | Dec/27 | 589 | 589 | |
| Monday, Dec 30 | |||||
| 9:45AM | Dec Chicago PMI | Dec | 42.8 | 40.2 | |
| 10:00AM | Nov Pending Home Sales YoY | Nov | 5.4% | ||
| 10:00AM | Nov Pending Home Sales (%) | Nov | 0.7% | 2% | |
| 10:30AM | Dec Dallas Fed Manufacturing Index | Dec | -2.7 | ||
| 11:30AM | 26-Week Bill Auction (bl) | 84 | |||
| 11:30AM | 6-Month Bill Auction | 4.170% | |||
| 11:30AM | 3-Month Bill Auction | 4.240% | |||
| 11:30AM | 26-Week Bill Auction (bl) | 72 | |||
| 1:00PM | 26-Week Bill Auction (bl) | 75 | |||
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