Calm before the storm today, with just weekly initial jobless claims (20 out of 20 400K+ weeks with one or two very small exceptions) on the economic docket, ahead of the last bond auction of the week, which should send total US debt on the verge of breaching the provision ceiling of $14.695 trillion.
8:30: Jobless claims (Week of August 20): Still low? The weekly initial jobless claims figures have remained surprisingly low despite signs of deterioration in other indicators. This may mean that the economy has not weakened as significantly as the survey-based data (e.g. the Philadelphia Fed index) suggest.
Consensus: 405,000; Last: 408,000. MAP: 2
11:00: Treasury will announce a projected $60.0 billion of 3- and 6-month bills.
11:00: Another POMO- The Open Market Desk will buy nominal Treasury coupons in the 04/15/2013 - 02/15/2041 maturity range.
13:00: Treasury auctions $29.0 billion 7-year note to raise all new cash.