Today's Economic Docket: Just More Headlines
There are no notable economic events today so just like Noda, we will be watching, watching, watching those headlines and pretending to intervene if the world does not go our way. If that fails, we will spread rumors and demand that the US assist us in weakening reality whose moves have become too one-sided.
08:30: The Chicago Fed National Activity index for July will probably remain consistent with a slowing trend in growth. This indicator does not get a lot of market attention, but analysts like it for its ability to signal changes in the economy. Bloomberg's forecasting survey has a median forecast of -0.48 with a range from -0.56 o -0.40.
11:00 : Today's POMO - The Open Market Desk will buy nominal Treasury coupons in the 11/15/2021 - 08/15/2041 maturity range.
11:30 : Treasury will auction a combined $56.0 billion of 3- and 6-month bills.
Sources: GS, SMRA, Zero Hedge
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