US Treasuries
- Tuesday’s UST 10y range: 4.16% – 4.22%, closing at 4.22%
Upcoming US Treasury Supply
Tentative Schedule of Treasury Buyback Operations
From our Arbor Data Science Desk:
Conference Call tomorrow, Wednesday, December 4, 2024, featuring Jim Bianco
In Other News…
Freightwaves: Houthis attack US cargo ships
The American military said its warships fought off attacks by Houthi militia on three U.S.-flagged merchant ships in the Gulf of Aden.
gCaptain: China Bans Export of Key Minerals to U.S. as Trade Frictions Escalate
China has banned exports to the United States of items related to the minerals gallium, germanium and antimony that have potential military applications, it said on Tuesday, a day after Washington’s latest crackdown on China’s chip sector.
Arbor Data Science:
OilPrice: Europe’s Gas Storage Plummets at Fastest Pace in 8 Years
Europe’s gas inventories have depleted at the fastest rate for eight years, as the region has experienced repeated bouts of colder-than-normal temperatures and low wind speeds since the start of the winter heating season.
Upcoming Economic Releases & Fed Speak
- 12/04/2024 at 7:00am EST: MBA Mortgage Applications
- 12/04/2024 at 8:15am EST: ADP Employment Change
- 12/04/2024 at 9:45am EST: S&P Global US Services PMI & S&P Global US Composite PMI
- 12/04/2024 at 10:00am EST: Factory Orders & Factory Orders Ex Trans
- 12/04/2024 at 10:00am EST: ISM Services Index & ISM Services Prices Paid
- 12/04/2024 at 10:00am EST: Durable Goods Orders & ISM Services Employment
- 12/04/2024 at 10:00am EST: Durables Ex Transportation & ISM Services New Orders
- 12/04/2024 at 10:00am EST: Cap Goods Orders Nondef ex Air & Cao Goods Ship Nondef Ex Air
- 12/04/2024 at 8:45am EST: Musalem Speaks on US Economy, Policy
- 12/04/2024 at 9:00am EST: Barkin Speaks in CNBC Interview
- 12/04/2024 at 1:45pm EST: Powell Speaks in Moderated Discussion
- 12/04/2024 at 2:00pm EST: Federal Reserve Releases Beige Book
- 12/05/2024 at 7:30am EST: Challenger Job Cuts YoY
- 12/05/2024 at 12:15pm EST: Barkin Speaks on Economic Outlook
- 12/05/2024 at 6:00pm EST: Daly Gives Interview on PBS News Hour
- 12/05/2024 at 8:30am EST: Trade Balance & Initial Jobless Claims & Continuing Claims
- 12/06/2024 at 8:30am EST: Change in Nonfarm Payrolls & Two-Month Payroll Net revision
- 12/06/2024 at 8:30am EST: Change in Private Payrolls & Change in Manufacturing Payrolls
- 12/06/2024 at 8:30am EST: Unemployment Rate
- 12/06/2024 at 8:30am EST: Average Hourly Earnings MoM & Average Hourly Earnings YoY
- 12/06/2024 at 8:30am EST: Average Weekly Hours All Employees & Labor Force Participation Rate
- 12/06/2024 at 8:30am EST: Underemployment Rate
- 12/06/2024 at 9:15am EST: Bowman Speaks to Missouri Bankers Association
- 12/06/2024 at 10:00am EST: U. of Mich. Sentiment & U. of Mich. Current Conditions
- 12/06/2024 at 10:00am EST:U. of Mich. Expectations & U. of Mich. 1 Yr Inflation & U. of Mich. 5-10 Yr Inflation
- 12/06/2024 at 10:30am EST: Goolsbee Participates in Fireside Chat
- 12/06/2024 at 12:00pm EST: Hammack Speak on the US Economy
- 12/06/2024 at 1:00pm EST: Daly Speaks in Moderated Discussion
- 12/06/2024 at 3:00pm EST: Consumer Credit
- 12/09/2024 at 10:00am EST: Wholesale Trade Sales MoM & Wholesale Inventories MoM
- 12/09/2024 at 11:00am EST: NY Fed 1-Yr Inflation Expectations
- 12/10/2024 at 6:00am EST: NFIB Small Business Optimism
- 12/10/2024 at 8:30am EST: Nonfarm Productivity & Unit Labor Costs
Dealer Positions ($’s in millions of dollars)
- Dealer positions in T-Bills (as of 11/20) were up 18.95bln @58.26bln
- Dealer positions <2yrs TIPS (as of 11/20) were down 1.25bln @9.22bln.
- Dealer positions in 2-6yrs TIPS (as of 11/20) were down 2.88bln @7.94bln.
- Dealer positions in 6-11yrs TIPS (as of 11/20) were up 158mln @865mln.
- Dealer positions > 11yrs TIPS (as of 11/20) were up 17mln @-164mln.
- Dealer positions in < 2yrs Coupons (as of 11/20) were down 1.03bln @18.07bln.
- Dealer positions > 2yrs and < 3yrs Coupons (as of 11/20) were down 3.88bln @18.83bln.
- Dealer positions in > 3 years and< 6yrs Coupons (as of 11/20) were up 5.34bln @62.29bln.
- Dealer positions > 6yrs and < 7yrs Coupons (as of 11/20) were up 1.41bn @15.45bln.
- Dealer positions in > 7 years and< 11yrs Coupons (as of 11/20) were down 2.66bln @27.89bln.
- Dealer positions > 11yrs and < 21yrs Coupons (as of 11/20) were up 596mln @20.96bln.
- Dealer positions in > 21 years Coupons (as of 11/20) were up 3.58bln @31.88bln.
