Today's Economic Data Docket - Import Prices, Budget Balance And Bond Auctions

Tyler Durden's picture

Import prices and the budget balance; On the funding side, Treasury will auction off 4 week bills and 10 Year bonds to pay for all this fun and games. Luckily nobody ever expects to be repaid pre-hyperinflation.
 
8:30: Import/export price indexes (August). Lower commodity prices. Consensus forecasts expect a decline in US import prices for August, likely due to the drop in commodity prices during the month. The Goldman Sachs Commodity Index (GSCI) fell by 5.5% in August. The broad trade-weighted dollar was about unchanged through the end of August (though it has strengthened more recently). 
Consensus: -0.8%; last +0.3%. MAP: 1

11:30: Treasury to auction off $27 billion 4 Week Bills to paydown $8 billion
 
14:00: The US budget balance (August). The CBO estimates that the August budget deficit increased compared to last year. However, most of the deterioration was due to calendar-related shifts. Adjusted for these effects the budget deficit likely increased by $13bn, according to the CBO.
CBO: -$132bn; Consensus: -$-132bn; Last (August 2010): -$91bn.

13:00: Treasury to auction a $21 billion reopening of 2.125% 8/15/2021 10 Year bonds to raise all new cash and send total US debt well into $14.7 trillion range.