HALISTER1: U.S. ECO PREVIEW: Consumer Confidence Due in 5 Minutes

U.S. ECO PREVIEW: Consumer Confidence Due in 5 Minutes

(Bloomberg) -- Conference Board’s Consumer Confidence Index seen at 108.8 in Dec. vs 107.1 in Nov. (forecast range 105 to 111); index based on random sample of ~3k households.
  • Nov. reading was highest since July 2007
  • “The labor components of the survey -- jobs plentiful and jobs hard-to-get -- may provide deeper insight into the recent decline in unemployment, from 5.0% in September to 4.6% in November, thereby helping Fed officials to better understand the extent of slack, if any, remaining in the labor market": Bloomberg Intelligence
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: S&P/CoreLogic Home Prices Due in 5 Minutes

U.S. ECO PREVIEW: S&P/CoreLogic Home Prices Due in 5 Minutes

(Bloomberg) -- S&P CoreLogic Case-Shiller Composite 20-City Home Price Index seen rising 5% y/y in Oct. vs +5.08% in Sept. (forecast range +4.8% to +5.19%).
  • Current pace could slow considerably if rising mortgage rates depress home sales: Bloomberg Intelligence
    • “A 10% decline in existing home sales from July 2013 to February 2014 on the back of a 1 percentage point rise in rates led home price growth to slow from 14% to 4%": BI
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: UST MORNING CALL: Slight Bear Flattening Ahead of Auctions

UST MORNING CALL: Slight Bear Flattening Ahead of Auctions

(Bloomberg) -- USTs under mild pressure as U.S. trading resumes after long holiday weekend, with U.K. observing bank holiday; 2Y/5Y/7Y auction cycle begins today and month-end rebalancing may drive flows.
  • 10Y yield, higher by ~1bp at 2.55%, has plied a 5bp range over past 5 days, tightest over a 5-day period since Nov. 2015
  • UST 5s30s flatter by ~1bp, oscillating around 108bp in narrow trading range; long-end may benefit from month-end index extension and portfolio rebalancing favoring bonds
    • Wells Fargo estimates $32b outflow from equities vs. $20b inflow to bond; Credit Suisse estimate $38b equities outflows vs. $22b bond purchases
    • Bloomberg Barclays Treasury extension est. +0.08y
  • U.S. economic calendar includes Oct. S&P Home Price Index at 9am ET, Dec. Consumer Confidence and Richmond Fed Manufacturing Index at 10am; later this week, Dec. Chicago PMI Dec. 30
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Politics Vie With Tapering for Biggest 2017 Driver of Euro Bonds

Politics Vie With Tapering for Biggest 2017 Driver of Euro Bonds

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
2539Z GR (European Central Bank)

People
Abhishek Singhania (Deutsche Bank AG)
Anton Heese (Morgan Stanley)
Fabio Bassi (JPMorgan Chase & Co)
Giles Gale (Royal Bank of Scotland Group PLC)
Harvinder Sian (Citigroup Inc)

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UUID: 7947283