US Treasuries
- Friday’s UST 10y range: 4.38% – 4.425%, closing at 4.41%
Upcoming US Treasury Supply
- $69 Billion 2y Note Auction, Monday, 11/25/24
From our Arbor Data Science Desk:
In Other News…
Bloomberg: Flash Drought Gripping US Threatens to Raise Food Prices in 2025
A flash drought that has taken hold of much of the US is threatening to push beef prices higher and could damage winter wheat crops across the Great Plains.
USA Today: 49 states are in drought conditions, threatening water resources and agriculture
Drought conditions have gripped nearly the entire country, with only one state spared as a bone-dry autumn left most states parched.
Arbor Data Science: The Sticker Shock of Cattle by Sam Rines
Barron’s: Crypto Has Its Berlin Wall Moment As U.S. Aims to Make History
After years of regulatory uncertainty and ad hoc enforcements, the U.S. is embracing crypto to reinforce its global leadership in FinTech innovation.
In Supply Chain News…
Uncertainty among U.S. shippers is escalating into 2025 with the expectation of new Trump tariffs and the possibility of a new ports strike that could begin in mid-January.
NBC News: U.S. allies warn of ‘hybrid warfare’ after two undersea cables are cut in Baltic Sea
U.S. allies warned of “hybrid warfare” Tuesday after two undersea communication cables were severed in the Baltic Sea, raising suspicions that they may be the latest acts of sabotage targeting the West as it clashes with Russia.
Upcoming Economic Releases & Fed Speak
- 11/25/2024 at 8:30am EST: Chicago Fed Nat Activity Index
- 11/25/2024 at 10:30am EST: Dallas Fed Manf. Activity
- 11/26/2024 at 8:30am EST: Philadelphia Fed Non-Manufacturing Activity
- 11/26/2024 at 9:00am EST: FHFA House Price Index MoM & House Price Purchase Index QoQ
- 11/26/2024 at 9:00am EST: S&P CoreLogic CS 20-City MoM SA & S&P CoreLogic CS 20-City YoY NSA & S&P CoreLogic CS US HPI YoY NSA
- 11/26/2024 at 10:00am EST: New Home Sales & New Home Sales MoM
- 11/26/2024 at 10:00am EST: Conf. Board Consumer Confidence & Conf. Board Present Situation & Conf. Board Expectations
- 11/26/2024 at 10:00am EST: Richmond Fed Manufact. Index & Richmond Fed Business Conditions
- 11/26/2024 at 10:30am EST: Dallas Fed Services Activity
- 11/26/2024 at 2:00pm EST: FOMC Meeting Minutes
- 11/27/2024 at 7:00am EST: MBA Mortgage Application
- 11/27/2024 at 8:30am EST: GDP Annualized QoQ & Personal Consumption
- 11/27/2024 at 8:30am EST: GDP Price Index & Core PCE Price Index QoQ
- 11/27/2024 at 8:30am EST: Advance Goods Trade Balance & Wholesale Inventories MoM & Retail Inventories MoM
- 11/27/2024 at 8:30am EST: Durable Goods Orders & Durables ex Transportation
- 11/27/2024 at 8:30am EST: Cap Goods Orders Nondef Ex Air & Cap Goods Ship Nondef Ex Air
- 11/27/2024 at 8:30am EST: Initial Jobless Claims & Continuing Claims
- 11/27/2024 at 9:45am EST: MNI Chicago PMI
- 11/27/2024 at 10:00am EST: Personal Income & Personal Spending & Real Personal Spending
- 11/27/2024 at 10:00am EST: PCE Price Index MoM & PCE Price Index YoY
- 11/27/2024 at 10:00am EST: Core PCE Price Index MoM & Core PCE Price Index YoY
- 11/27/2024 at 10:00am EST: Pending Home Sales MoM & Pending Home Sales NSA YoY
- 12/02/2024 at 9:45am EST: S&P Global US Manufacturing PMI
- 12/02/2024 at 10:00am EST: Construction Spending MoM & ISM Manufacturing
- 12/02/2024 at 10:00am EST: ISM Prices Paid & ISM New Orders & ISM Employment
- 12/02/2024 at 3:15pm EST: Waller Gives Keynote at Fed Framework Conference