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Small Scale Volatility as Bonds Wait For Jobs Report
Small Scale Volatility as Bonds Wait For Jobs Report
Bonds lost ground this morning despite a weaker S&P PMI headline. While there were some mitigating factors beyond the headline, we could just as easily conclude that traders are erring on the side of caution heading into a week of Treasury auction supply with another big jobs report on Friday--all while being forced to wait an unknown amount of time to find out where the rubber meets the road on fiscal policies that could further affect the outlook for the economy, inflation, and Treasury issuance. All told, today's volatility was mild at best and we didn't learn anything new about the bigger picture.
Small Scale Volatility as Bonds Wait For Jobs Report
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Jan 06 | |||||
| 9:15AM | Fed Cook Speech | ||||
| 9:45AM | Dec S&P Global Composite PMI | Dec | 55.4 | 56.6 | 54.9 |
| 9:45AM | Dec S&P Global Services PMI | Dec | 56.8 | 58.5 | 56.1 |
| 10:00AM | Nov Factory orders mm (%) | Nov | -0.4% | -0.3% | 0.2% |
| 10:00AM | Nov Factory ex-transp mm (% ) | Nov | 0.2% | 0.1% | |
| 10:30AM | NY Fed Treasury Purchases 6 to 10 yrs (%) | $25 million | |||
| 11:30AM | 52-Week Bill Auction (bl) | 72 | |||
| 11:30AM | 26-Week Bill Auction (bl) | 84 | |||
| 11:30AM | 3-Month Bill Auction | 4.205% | 4.230% | ||
| 11:30AM | 6-Month Bill Auction | 4.110% | 4.135% | ||
| 1:00PM | 3-Year Note Auction | 4.332% | 4.117% | ||
| 1:00PM | 3-Yr Note Auction (bl) | 58 | |||
| Tuesday, Jan 07 | |||||
| 6:00AM | Dec LMI Logistics Managers Index Current | Dec | 57.3 | 58.4 | |
| 8:00AM | Fed Barkin Speech | ||||
| 8:30AM | Nov Trade Gap (bl) | Nov | $-78.2B | $-78B | $-73.8B |
| 8:30AM | Nov Imports | Nov | $351.6B | $339.6B | |
| 8:30AM | Nov Exports | Nov | $273.4B | $265.7B | |
| 8:55AM | Jan/04 Redbook yy (%) | Jan/04 | 6.8% | 7.1% | |
| 10:00AM | Nov JOLTs Job Quits | Nov | 3.065M | 3.326M | |
| 10:00AM | Dec ISM Biz Activity | Dec | 58.2 | 53.7 | |
| 10:00AM | Dec ISM N-Mfg PMI | Dec | 54.1 | 53.3 | 52.1 |
| 10:00AM | Dec ISM Services Employment | Dec | 51.4 | 51.4 | 51.5 |
| 10:00AM | Dec ISM Services Prices | Dec | 64.4 | 57.5 | 58.2 |
| 10:00AM | Nov USA JOLTS Job Openings | Nov | 8.098M | 7.70M | 7.744M |
| 10:00AM | Dec ISM Services New Orders | Dec | 54.2 | 54.2 | 53.7 |
| 11:30AM | 52-Week Bill Auction (bl) | 85 | |||
| 11:30AM | 42-Day Bill Auction (%) | 4.245% | 4.280% | ||
| 1:00PM | 10-yr Note Auction (bl) | 39 | |||
| 1:00PM | 10-Year Note Auction | 4.68% | 4.235% | ||
| 4:30PM | Jan/03 API weekly crude stocks (ml) | Jan/03 | -4.022M | -0.25M | -1.442M |
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