Yields rise as market awaits employment data, Fed meeting

Yields rise as market awaits employment data, Fed meeting

Oct. 30:

Rates were a bit higher this morning ahead of the economic news coming this week, including the Federal Open Market Committee meeting that ends Wednesday and the monthly employment report on Friday.

The Dow traded up this morning.  

Consumers expect higher inflation in the year ahead

The final University of Michigan Consumer Sentiment survey for October showed a slight improvement from the preliminary report released two weeks earlier, with the sentiment index rising from 63.0 to 63.8.

The expected rate of inflation over the next year, however, rose from 3.8% to 4.2%.

Economic calendar

Tuesday, Oct. 31

  • S&P CoreLogic Case-Shiller Home Price Index
  • FHFA House Price Index
  • Employment Cost Index
  • Consumer Confidence

Wednesday, Nov. 1

  • ADP Employment Report
  • Construction Spending
  • ISM Manufacturing PMI
  • Job Openings
  • The FOMC concludes its meeting with a press release at 11 a.m. PT, and a press conference with Fed Chair Jerome Powell at 11:30 a.m.

Thursday, Nov. 2

  • Nonfarm Productivity/Unit Labor Costs
  • Weekly Initial Jobless Claims
  • Factory Orders

Friday, Nov. 3

  • Monthly Employment Report
  • ISM Services PMI

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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