Fed officials suggest rates will likely remain elevated

Fed officials suggest rates will likely remain elevated

Oct. 3:

Comments from various Federal Reserve officials on Monday suggest that we are likely at or very near the level that is sufficiently restrictive to bringing inflation back to its 2% target and that the central bank will keep rates up for some time.

Manufacturing sees highest outlook in 10 months

Yesterday’s ISM manufacturing PMI for September rose to 49.0 from 47.6 in August, the highest level since November 2022. Any number over 50 indicates an outlook for growth in the national manufacturing sector.

State of the market

This morning, the Dow traded down. Relative to Monday morning, Treasury yields were up.

Economic calendar

Tuesday, Oct. 3

  • Job Openings

Wednesday, Oct. 4

  • ADP Employment Report
  • ISM Services PMI
  • Factory Orders

Thursday, Oct. 5

  • Trade Balance Report
  • Weekly Initial Jobless Claims

Friday, Oct. 6

  • Monthly Employment Report
  • Consumer Credit

Treasury calendar

There are no auctions of Treasury notes or bonds this week.

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

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