Highlighted by multiple reports that will give an indication of the health of our economy, this week will be full of data for you to consume.
Tag Archives | Economic Reports
Bonds are down, finally some good news comes out of Europe, and November’s housing starts came in better than expected.
Fed speakers are in line to speak today, jobless claims are down, and the Leading Indicators report is scheduled to be released.
Speculation that Greece will approve austerity measures in order to secure a bailout affected declining treasuries and mortgage bonds before today’s $35 billion auction of five year notes.
A few of the more noteworthy economic reports this week include the housing reports, consumer confidence, manufacturing data and the $99 billion in Treasury auctions. This is the last week of the $600 billion QE2 purchase program.
Treasuries and mortgage-backed security prices are opening higher this morning after the EU failed to agree on terms of additional aid to Greece to help them avoid defaulting on their debt. Some of the key economic reports this week include May new home sales and the May durable goods report. The headline report for the week will be the FOMC meeting that begins on Tuesday and the resulting policy statement and press conference on Wednesday.
The bond market is closed today in observance of the President’s Day holiday. Later in the week, key data will be released, including, existing home sales, new home sales, Gross Domestic Product, and durable goods.
Important economic data slated for the week include, housing reports, retail sales, Federal Open Market Committee meeting minutes and inflation reports.
Treasuries opened down this morning with the expectation that the Durable Goods report would come in better than forecasted. The Durable Goods report showed an unexpected decline in orders. Following the morning economic reports, treasuries have bounced back slightly as the initial unemployment claims report came in higher than expected.
With no major economic releases scheduled for today the market could take its direction from equities. Investors will also be keeping an eye on the turmoil in Europe surrounding more possible downgrades by Moody’s.