Today's Economic Data Highlights
Trade and confidence today….There is a $6-8 billion POMO for bonds due 08/15/2016 – 01/31/2018: the battle between reality and central planning continues
8:30: The US trade balance for Dec…widening? We expect a widening of nearly $3bn in the US trade balance for December, due mainly to strong import growth. This is slightly more than the median forecast, but it is actually narrower than the $4.4bn increase assumed by the Commerce Department for the goods balance in its preliminary estimate for fourth-quarter growth.
Median forecast (of 77) -$40.5bn, ranging from -$43.5bn to -$37.4bn; last -$38.3bn.
10:00 (9:55 to subscribers): Reuters/University of Michigan consumer sentiment for Feb (prelim)…a small step up? Forecasters are looking for this index to show a small increase, putting it close to the 76 high for the expansion reached last June. The median expectation for inflation five to ten years ahead notched up to 2.9% in January, the upper end of a tight 2.7%-2.9% range that has prevailed since November 2009.
Median forecast (of 68): 75, ranging from 71.5 to 78.5; last 74.2 (Jan final).
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