Yields rise as market awaits employment data, Fed meeting
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%.
Tuesday, Oct. 31
S&P CoreLogic Case-Shiller Home Price Index
FHFA House Price Index
Employment Cost Index
Wednesday, Nov. 1
ADP Employment Report
ISM Manufacturing PMI
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
Friday, Nov. 3
Monthly Employment Report
ISM Services PMI
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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