Today's Economic Data Docket - Imp/Ex Prices And Wholesale Inventories, Ceiling Busting $32 Billion Auction

Import prices, wholesale inventories and a few speeches from Fed officials. Ceiling busting $32 billion 3 year auction in tow, and second to last POMO in current schedule also on deck.
8:30: Import/export price indexes (April). Likely higher. Higher commodity prices and the weaker dollar point to another rise in US import prices. Prices of imports from China have picked up recently (+2.6% yoy), likely reflecting the appreciating yuan and perhaps higher input costs.
Median forecast (of 51): +1.8%; last +2.7%.
9:30: Federal Reserve Governor Elizabeth Duke on “Fostering Innovation in Community Development Finance”.
10:00: Wholesale inventories (March): Revisions to GDP? In its advance estimate of Q1 GDP, the Department of Commerce assumed that wholesale inventories increased by about 0.9% mom in March. If the reported value differs significantly from that level it would imply revisions to Q1 GDP.
Median forecast (of 29): +1.0%; last +1.0%.

11:00: Second to last POMO ($5-7 billion 05/15/2015-10/31/2016) before current schedule is exhausted. New schedule is released tomorrow at 2 pm.

12:45: Richmond Fed President Jeffrey Lacker on the economic outlook. Q&A scheduled.

13:00: $32 billion 3 year auction (no QE3 Cusip this time) which may just push total debt over the ceiling absent some dramatic cuts to other total debt holdings.

Via GS and ZH


No comments yet! Be the first to add yours.