The Week Ahead: Emptiness

Lay back and enjoy the brisk autumn weather. There are no major reports on the schedule during the week.

Of mild interest, Fed Chair Janet Yellen makes her first public appearance since President Trump nominated her successor, Fed Gov. Jerome Powell, a five-year veteran of the Fed. Yellen’s term expires in February 2018.

Yellen will make remarks as she accepts the Paul H. Douglas Award for Ethics in Government from the Institute of Government and Public Affairs at the University of Illinois, on Tuesday at 2:30 p.m. in Washington.

All times below are New York time.

Leading indicators (in descending order of importance):

The interest rate spread between 10-year Treasuries and the federal funds rate, reported continually during market hours.

The M2 money supply, at 4:30 p.m. Thursday.

The S&P 500 index, reported continually during market hours.

Average weekly initial claims for unemployment, from the jobless claims report at 8:30 a.m. Thursday.

The index of consumer expectations from the University of Michigan consumer sentiment survey.

Events arranged by day:

Tuesday: The job openings and labor turnover survey at 10 a.m. and a public appearance by Fed Chair Yellen at 2:30 p.m.

Wednesday: Petroleum inventories at 10:30 a.m.

Thursday: Jobless claims  at 8:30 a.m. and the M2 money supply at 4:30 p.m.

Friday: Consumer sentiment at 10 a.m. and the Treasury budget at 2 p.m.

I also keep an eye on the Baltic Dry Index, updated daily, and the 5-year implied inflation rate which is the difference between the yields on 5-year U.S. Treasury notes and  5-year Treasury inflation protected securities (TIPS).

By Tim Bovee, Portland, Oregon, November 3, 2017


Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

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