As we near the end of a relatively choppy day, Fannie 3.5’s and 4.0’s are within a tick of unchanged from yesterday’s 5pm levels. Today was interesting and somewhat of a departure from recent sessions in that we saw more of a connection to economic data than usual while we wait on more definitive guidance out of Europe. Basically, it’s an “uncertainty reigns supreme” sort of issue, and in that sense, measurable economic data provides some concrete guidance while EU guidance has gone sort of sideways.
Tomorrow’s calendar is active. Several economic reports, several Fed speakers and Auction supply announcements. Here’s the rundown:
830 – Jobless Claims
10 – Existing Home Sales
10 – Leading Indicators
10 – Philly Fed Survey
1015 – Fed’s Bullard
11 – Supply announcement
There’s plenty more Fed Speak in the afternoon and evening as well… Lockhart, Pianalto, Tarullo, and Kocherlakota at 12, 1250, 6, and 8pm respectively. There’s also the weekly Fed Balance Sheet at 430pm.
For a more detailed look at tomorrow’s economic events, see the following link: