Morning, Traders!
It is Wednesday the 25th of October, here are some things to look out for today.
Sentiment
The worst selloff of longer-term Treasuries in more than four decades is putting a spotlight on the market’s biggest missing buyer: the Federal Reserve.
The spread between rates on US credit cards and personal loans is hovering near the widest on record, implying that consumers could see massive interest savings by transferring their credit card debt
The US economy likely expanded in the third quarter at the fastest clip in nearly two years, a surprising acceleration primarily powered by a consumer reaping the benefits of resilient job growth, rising wealth and easing inflation, according to median economist estimates compiled by the newswires.
Docket
10:00 ET
BoC Rate Decision
Median forecasts see the BoC leaving rates unchanged at 5%, for the 3rd consecutive meeting.
US New Home Sales - Units
Median Forecast: 0.68M | Prior: 0.675M | Range: 0.75M / 0.62M
10:30 ET
Weekly EIA Crude Oil Inventories
Median Forecast: -0.45M | Prior: -4.491M | Range: 2M / -3M
13:00 ET
US sells $52 bln 5-Year Notes
Speakers
11:00 ET
BoC Press Conference with Governor Macklem
13:00 ET
ECB President Lagarde gives a speech at the official dinner of the Bank of Greece in Athens.
16:35 ET
Fed Chair Powell delivers brief remarks introducing 2023 Moynihan Prize recipient Alan Blinder at the 2023 Moynihan Lecture in Social Science and Public Policy in Washington.
Text: Yes. Q&A: No.
Earnings
16:05 ET
Meta Platforms Q3 Earnings
Est. EPS $3.60
Est. Rev $33.51B
16:10 ET
IBM Q3 Earnings
Est. EPS $2.12
Est. Rev $14.68B
Good luck!
