Highlights
After a weak reception for Wednesday's sale of US Treasury 5-year notes, attention shifts to Thursday's Treasury 7-year note auction to see what the market's appetite will be for the latest paper.
Wednesday's 5-year note auction saw the dreaded"tail" -- the auction high yield accepted of 3.615 percent came in 0.7 basis points cheaper than the market yield at auction time. Plus primary dealers ended up owning more of the offering than usual. Still, yields are down so far Thursday despite a lower than expected jobless claims number for the latest week. Lower claims suggest the labor market remains surprisingly resilient, ordinarily a negative for US Treasuries.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.