Today's Economic Data Highlights
One lone indicator today and two lone POMOs
10:30: Dallas Fed manufacturing index for Nov…will it hold? After three months in seriously negative territory, this index recovered to a slightly positive reading in October. The detailed indexes had not been quite at bad as the headline during the third quarter; they were more mixed in October—up for production (to +6.9 from +4.0) but down a bit for new orders (to -2.5 from 0) and more than a bit for number of employees (to -4.1 from +1.8). The three economists who forecast it expect little change, on balance, in the headline reading. This report follows three other Fed surveys, which have given sharply divergent messages (Richmond and Philadelphia both up; New York down sharply).
Median forecast (of 3): +3, ranging from 0 to +7; last +2.6.
11:00: POMO #1 - 2/15/2021 – 11/15/2027; size $1.5- $2.5 billion
13:15: POMO #2 - 5/31/2013 – 11/15/2014; size $6 - $8 billion