Markets volatile ahead of Fed chair speech

Markets volatile ahead of Fed chair speech

Oct. 2:

Both stock and bond markets continue to be volatile despite relief that a deal was reached over the weekend to avert a federal government shutdown. Markets eagerly await today’s speech from Federal Reserve Chair Jerome Powell to provide hints on the direction of future interest rates.

State of the market

This morning, the Dow traded down due to disappointing third quarter results from Tesla, while bond yields rallied. Relative to Friday morning, Treasury yields were up.

Economic calendar

Monday, Oct. 2

  • ISM Manufacturing PMI
  • Construction Spending

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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