US OUTLOOK/OPINION: Jefferies says the data calendar is light next wk, "but will feature housing, manufacturing, and consumer confidence reports. There are no Fed speakers scheduled due to the impending blackout period ahead of the July 30th-31st FOMC meeting. The NY Fed Open Market Desk will be in with 5 purchases for as much as $12.5 bln. Treasury will come with a package $99 bln in 2-, 5-, and 7-year note supply in addition to the bill calendar." Trading is likely to be most heavily influenced by technical factors and supply could cause consession in the belly while Fed buys support bonds. "We like curve flatteners."
No comments:
Post a Comment