Good Morning Traders.
It is Thursday the 19th of October, here is what to look out for today.
Sentiment
This morning, Treasury yields hit fresh multi-year highs across the curve, as markets looked ahead to a speech by Federal Reserve Chair Powell later today.
The dollar extended gains, rising against most peers, with the yen and franc holding ground amid tensions in the Middle East. US stock futures dropped.
Trump is leading President Biden in several key swing states as voters reject the economic message that is central to Biden’s reelection bid, according to a poll by the newswires and Morning Consult.
The outlook for the US economy is stable or may show softer expansion, the Federal Reserve said in its Beige Book survey of regional business contacts.
Docket
08:30 ET
Weekly Jobless Claims Data
Initial - Median Forecast: 210K | Prior: 209K | Range: 220K / 200K
Continued - Median Forecast: 1.71M | Prior: 1.702M | Range: 1.73M / 1.685M
Canadian PPI for September
Median Forecast: 0.3% | Prior: 1.3% | Range: 0.5% / 0.1%
Philly Fed Business Index for October
Median Forecast: -6.9 | Prior: -13.5 | Range: 4 / -12
10:00 ET
Home Sales Data for September
Home Sales - Median Forecast: 3.89M | Prior: 4.04M | Range: 416M / 375M
Home Sales Change - Median Forecast: -3.7% | Prior: -0.7% | Range: 3% / -7.2%
11:30 ET
US Sells $95 Bln in 4-Week Bills at Auction
13:00 ET
US Sells $22 Bln in 5-Year TIPS at Auction
Speakers
09:00 ET
Fed's Jefferson delivers welcoming remarks at the Fed's 18th Central Bank Conference on the Microstructure of Financial Markets. Text is expected but no Q&A.
12:00 ET
Fed's Powell speaks at the Economic Club of New York. Both text and Q&A are expected.
13:20 ET
Fed's Goolsbee participates in a moderated Q&A at the Wisconsin Manufacturers & Commerce Business Day. No text but there will be a Q&A.
13:30 ET
Fed's Barr speaks about stress testing at the 2023 Federal Reserve Stress Testing Research Conference at the Boston Fed. Both text and Q&A are expected.
16:00 ET
Fed's Bostic speaks on the role of policy in addressing inequality at the New School University Center. Both text and Q&A are expected.
Good luck!
