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10-yr fall?
- Thread starter illiquid
- Start date
Economic calendar for 5/8:
Preview of Thursday, May 8, 2003:
a.m. Chain Store Sales, April
8:30 a.m. Initial Claims, week ended May 3
9:15 a.m. Chicago Fed President Moskow (voting FOMC member) gives opening remarks at the Chicago Fedâs annual Bank Structure Conference on âCorporate Governance: Implications for Financial Services Firmsâ in Chicago, IL.
9:15 a.m. Fed Chairman Greenspan gives the keynote address at the Chicago Fed's annual Bank Structure Conference on âCorporate Governance: Implications for Financial Services Firmsâ in Chicago, IL.
10:50 a.m. Fed Governor Bies speaks on a panel at the Chicago Fed's annual Bank Structure Conference on âCorporate Governance: Implications for Financial Services Firmsâ in Chicago, IL.
1:00 p.m. 10-year Note Auction, size: $18 billion <------
2:00 p.m. FOMC Minutes, March 18
2:00 p.m. Treasury Secretary Snow testifies before the House subcommittee in Washington, D.C.
2:45 p.m. Kansas City Fed President Hoenig and Minneapolis Fed President Stern (both non-voting FOMC members) speak on a panel on âFinancial Services Regulatory and Legislative Itemsâ at the Chicago Fed's annual Bank Structure Conference on âCorporate Governance: Implications for Financial Services Firmsâ in Chicago, IL.
4:30 p.m. Money Supply, week of April 28
Preview of Thursday, May 8, 2003:
a.m. Chain Store Sales, April
8:30 a.m. Initial Claims, week ended May 3
9:15 a.m. Chicago Fed President Moskow (voting FOMC member) gives opening remarks at the Chicago Fedâs annual Bank Structure Conference on âCorporate Governance: Implications for Financial Services Firmsâ in Chicago, IL.
9:15 a.m. Fed Chairman Greenspan gives the keynote address at the Chicago Fed's annual Bank Structure Conference on âCorporate Governance: Implications for Financial Services Firmsâ in Chicago, IL.
10:50 a.m. Fed Governor Bies speaks on a panel at the Chicago Fed's annual Bank Structure Conference on âCorporate Governance: Implications for Financial Services Firmsâ in Chicago, IL.
1:00 p.m. 10-year Note Auction, size: $18 billion <------
2:00 p.m. FOMC Minutes, March 18
2:00 p.m. Treasury Secretary Snow testifies before the House subcommittee in Washington, D.C.
2:45 p.m. Kansas City Fed President Hoenig and Minneapolis Fed President Stern (both non-voting FOMC members) speak on a panel on âFinancial Services Regulatory and Legislative Itemsâ at the Chicago Fed's annual Bank Structure Conference on âCorporate Governance: Implications for Financial Services Firmsâ in Chicago, IL.
4:30 p.m. Money Supply, week of April 28
From www.minyanville.com:
"The auction results were lousy.
The new issue was trading on a "when-issued" basis just before the auction at a yield of 3.63%. The auction came at a yield of 3.70%, a bigger miss (but in the opposite direction) from yesterday's five-year auction.
The bid-to-cover ratio (a measure of the amount of bids relative to the amount being offered) was a low (i.e. lack of demand) 1.22. This appears to be the worst B/C ratio since at least 1994.
The old 10-year was up a half-point in front of the auction, it lost all of that gain on the news."
"The auction results were lousy.
The new issue was trading on a "when-issued" basis just before the auction at a yield of 3.63%. The auction came at a yield of 3.70%, a bigger miss (but in the opposite direction) from yesterday's five-year auction.
The bid-to-cover ratio (a measure of the amount of bids relative to the amount being offered) was a low (i.e. lack of demand) 1.22. This appears to be the worst B/C ratio since at least 1994.
The old 10-year was up a half-point in front of the auction, it lost all of that gain on the news."