Happy Friday! It is the 10th of November, here are some things to look out for today.
Treasuries edged lower as traders digested Thursday’s weak 30-year debt sale and Federal Reserve Chair Jerome Powell’s hawkish remarks. The dollar and US stock futures were broadly steady, with investors looking ahead to the University of Michigan sentiment and inflation data and commentary from Fed speakers.
Federal Reserve Chair Jerome Powell said the US central bank will continue to move carefully but won’t hesitate to tighten policy further if needed to contain inflation.
A months-long backlog in processing labor permits is complicating US government efforts to help cities like New York cope with an influx of undocumented immigrants and ease worker shortages.
University of Michigan Sentiment November Prelim
Sentiment - Median Forecast: 63.8 | Prior: 63.8 | Range: 68 / 61.5
1-Year Inflation Expectations - Median Forecast: 4% | Prior: 4.2% | Range: 4.1% / 3.7%
5-Year Inflation Expectations - Median Forecast: 3% | Prior: 3% | Range: 3.1% / 2.9%
Atlanta Fed President Bostic speaks to the Mobile Chamber of Commerce about economic mobility and challenges in the community.
Text: No. Q&A: Yes, with the audience.
ECB Governing Council member Nagel gives speech on 'Financial policy challenges in an environment of high inflation' in Baden-Baden, Germany.
Good luck! Have a good weekend.