Treasury optimistic about a soft landing for the economy

Treasury optimistic about a soft landing for the economy

Sept. 11:

The Dow traded up this morning, partly in response to Treasury Secretary Janet Yellen’s remarks over the weekend that the U.S. seems on track to bring inflation down without an undue adverse effect on jobs.

Rates are up relative to Friday morning, but most of the increase occurred midday Friday.

Growth in consumer credit outstanding slowed in July

Consumer credit grew only $10.399 billion in July, down from $14.016 billion in June. There was a $9.7 billion increase in revolving debt and a $0.7 billion increase in non-revolving debt.

Economic calendar

Wednesday, Sept. 13

  • Consumer Price Index
  • Monthly Budget Statement

Thursday, Sept. 14

  • Producer Price Index
  • Advance Retail Sales
  • Business Inventories
  • Weekly Initial Jobless Claims

Friday, Sept. 15

  • Import Price Index
  • Empire State Manufacturing Survey
  • Industrial Production/Capacity Utilization
  • University of Michigan Consumer Sentiment

Treasury calendar

Monday, Sept. 11

  • $44 billion auction of three-year Treasury notes

Tuesday, Sept. 12

  • $35 billion auction of 10-year Treasury notes

Wednesday, Sept. 13

  • $20 billion auction of 30-year Treasury bonds

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