Fed leaders: Fighting inflation remains central bank’s priority

Nov. 7:

The bond market cooled off a bit this morning, as two regional Federal Reserve presidents — Neel Kashkari of the Minneapolis Fed and Austan Goolsbee of the Chicago Fed — cautioned that controlling inflation remains paramount. 

This morning, the Dow traded down and Treasury yields were mixed relative to Monday morning.

U.S. trade deficit rose $2.9 billion in September

The September Trade Balance Report shows a larger than expected trade deficit, $61.5 billion, with exports at $261.1 billion and imports at $322.7 billion.

Economic calendar

Tuesday, Nov. 7

• Consumer Credit

Thursday, Nov. 9

• Weekly Initial Jobless Claims
• Fed Chair Jerome Powell participates in a panel on “Monetary Policy Challenges in a Global Economy” at the International Monetary Fund’s Jacques Polak Annual Research Conference in Washington, D.C.

Friday, Nov. 10

• University of Michigan Consumer Sentiment

Treasury calendar

Tuesday, Nov. 7

• $48 billion auction of three-year Treasury notes

Wednesday, Nov. 8

• $40 billion auction of 10-year Treasury notes

Thursday, Nov. 9

• $24 billion auction of 30-year Treasury bonds

By Mike Kraft, Executive Director and Commercial Real Estate Treasurer for Commercial Banking