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Open But Not Really Open
Open But Not Really Open
This is just a reminder that the Friday after Thanksgiving is the most useless and inconsequential trading day of the year. In very rare cases, movement can be tied to actual events/data, but that's not the case today. We do not publish detailed commentary on this particular Friday unless something interesting is happening. We're only publishing this to let you know we're watching and still not seeing anything interesting.
Mostly flat overnight but selling steadily since 8am. MBS down a quarter point and 10yr up 6.9bps at 4.084
Holiday Week Volatility With Zero Consequence
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Dec 01 | |||||
| 9:45AM | Nov S&P Global Manuf. PMI | Nov | 52.2 | 51.9 | 52.5 |
| 10:00AM | Sep Construction spending (%) | Sep | -0.1% | 0.2% | |
| 10:00AM | Nov ISM Manufacturing Employment | Nov | 46.0 | ||
| 10:00AM | Nov ISM Mfg Prices Paid | Nov | 59.5 | 58.0 | |
| 10:00AM | Oct Construction spending (%) | Oct | |||
| 10:00AM | Nov ISM Manufacturing PMI | Nov | 48.6 | 48.7 | |
| 8:00PM | Fed Chair Powell Speech | ||||
| Tuesday, Dec 02 | |||||
| 10:00AM | Nov Total Vehicle Sales (ml) | Nov | 15.4M | 15.3M | |
| 10:00AM | Fed Bowman Speech | ||||
| 10:10AM | Dec IBD economic optimism | Dec | 44.2 | 43.9 | |
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