Today's Economic Data Docket - TIC, Empire Index
Monthly international capital flows for June, The Empire State index and homebuilder sentiment for August.
8:30: Empire Index (August): Further improvement? Given high uncertainty about the near-term outlook for the economy, this early read on August manufacturing activity could prove important. In July, the Empire State index edged up to -3.8 from -7.8 in June. Consensus forecasts expect another small gain this month, with the index reaching zero. The Philadelphia Fed’s manufacturing index will be released on Thursday.
Consensus: Flat; Last -3.8.
9:00: TICS net inflows (June). The June TIC data predate recent market volatility and therefore may be of limited value. In the first five months of the year, the TIC reports showed strong inflows into Treasuries and relatively weak inflows into agencies and corporate bonds.
Consensus: +$33bn; Last +$24bn.
10:00: Housing Market Index (August): Likely still low.This index remains in the mid teens, where it has been for most of the past three years. This month, the median forecast is for an unchanged reading of 15.
Consensus: 15; Last 15. MAP: 1
11:00: Treasury will announce a $35.0 billion 4-week bill and a possible $25.0 billion regular CMB.
11:30: Treasury will auction a combined $56.0 billion 3- and 6-month bills.
13:25: Atlanta Fed President Dennis Lockhart on the economy.
From Goldman, SMRA and Zero Hedge
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