Powell examines the calendar (AI photo)
This week's lead includes CPI and PPI and some special Treasury auctions. The Fed goes into blackout at midnight on Friday so it will be much quieter in that regard. The FOMC decision is December 18th.
Here's a day-by-day preview of next week's US economic data releases:
Monday, December 9
- 10:00 AM: Wholesale Charts (Month-on-Month, October)
This low-priority release provides insight into US wholesale investment levels and feeds into GDP estimates but rarely moves the market. The previous reading showed an increase of 0.2%.
Tuesday, December 10
-
8:30 am: Non-Farm Productivity (Q3)
A low-priority publication that measures the output of each employee. The consensus expects no change from the previous quarter's reading of 2.2%. On Friday, Goolsbee spoke about the puzzle of increasing productivity in the US. -
Rup: 3-Year Treasury Sales ($58 Billion)
Wednesday, December 11
-
8:30 am: Consumer Price Index (CPI)
- Month-over-month CPI (November): A high priority publication that measures monthly changes in consumer prices. The consensus forecast is a 0.3% increase, compared to a 0.2% increase in the previous month.
- CPI Month-on-Month (Heart, November): This does not include volatile food and energy prices. The consensus is also a 0.3% increase, the same as the previous reading.
- CPI Year Over Year (November): The consensus expects the annual inflation rate to accelerate slightly to 2.7%, up from 2.6% previously.
- CPI Year Over Year (Heart, November): Core inflation is expected to remain steady at 3.3%.
-
Rup: 10-Year Treasury Sales ($39 Billion)
Thursday, December 12
-
8:30 am:
- Initial unemployment claims (week ending December 7):We hit a six week high last week.
- Producer Price Index (PPI) Month Over Month (November):This is less specific when it comes out after CPI but the consensus is for a 0.3% increase, in line with the previous month's reading.
- Producer Price Index (Core) Month-over-Month (November): Excluding food and energy, core PPI is also expected to rise by 0.2%, slightly lower than the previous month's 0.3%.
-
Rup: 30-Year Treasury Market ($22 billion) The 30-year Treasury is trading at 4.34%.
Friday, December 13
- 8:30 am:
- Import Price Index Month-over-Month (November): Measurement of price changes for imported goods. The consensus forecast is for a slight decrease of 0.3%, after a previous increase of 0.3%. This will not be a market move.
All told, it's a pretty quiet week with one major release and no Fed jibber-jabber. That's probably a good position for a risk fund
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