Treasury prices are higher this morning following the earthquake in Mexico as well as in anticipation of Hurricane Maria making landfall in Puerto Rico. The market will be focused on today’s Fed meeting at 2 PM EDT. While there is very little expectation for a rate hike, the market is currently pricing in a 2.1% probability, the expectation is that the central bank will kick off its balance sheet reduction program. Given that the Fed has been clear in its plan to shrink its portfolio, changes in near term valuations should relatively subdued, as the market has been able to price in the increased supply.

Hafizan Hamzah
Director, Investment Management Group

Date TimeEvent SurveyActualPrior
09/20/2017 07:00MBA Mortgage Applications15-Sep-9.70%9.90%
09/20/2017 10:00Existing Home SalesAug5.45m5.35m5.44m
09/20/2017 10:00Existing Home Sales MoMAug0.20%-1.70%-1.30%
09/20/2017 14:00FOMC Rate Decision (Upper Bound)20-Sep1.25%1.25%
09/20/2017 14:00FOMC Rate Decision (Lower Bound)20-Sep1.00%1.00%
09/21/2017 08:30Initial Jobless Claims16-Sep300k284k
09/21/2017 08:30Continuing Claims9-Sep1975k1944k
09/21/2017 08:30Philadelphia Fed Business OutlookSep17.118.9
09/21/2017 09:00FHFA House Price Index MoMJul0.40%0.10%
09/21/2017 09:45Bloomberg Consumer Comfort17-Sep51.9
09/21/2017 09:45Bloomberg Economic ExpectationsSep54
09/21/2017 10:00Leading IndexAug0.30%0.30%
09/21/2017 12:00Household Change in Net Worth2Q$2347b
09/22/2017 09:45Markit US Manufacturing PMISep P5352.8
09/22/2017 09:45Markit US Services PMISep P55.756
09/22/2017 09:45Markit US Composite PMISep P55.3
09/25/2017 08:30Chicago Fed Nat Activity IndexAug-0.01
09/25/2017 10:30Dallas Fed Manf. ActivitySep1317
09/26/2017 09:00S&P CoreLogic CS 20-City MoM SAJul0.11%
09/26/2017 09:00S&P CoreLogic CS 20-City YoY NSAJul5.65%
09/26/2017 09:00S&P CoreLogic CS 20-City NSA IndexJul200.54
09/26/2017 09:00S&P CoreLogic CS US HPI YoY NSAJul5.77%
09/26/2017 09:00S&P CoreLogic CS US HPI NSA IndexJul192.6
09/26/2017 10:00New Home SalesAug600k571k
09/26/2017 10:00New Home Sales MoMAug5.10%-9.40%
09/26/2017 10:00Conf. Board Consumer ConfidenceSep119.3122.9
09/26/2017 10:00Conf. Board Present SituationSep151.2
09/26/2017 10:00Conf. Board ExpectationsSep104
09/26/2017 10:00Richmond Fed Manufact. IndexSep1314
09/27/2017 07:00MBA Mortgage Applications22-Sep-9.70%
09/27/2017 08:30Durable Goods OrdersAug P0.90%-6.80%
09/27/2017 08:30Durables Ex TransportationAug P0.30%0.60%
09/27/2017 08:30Cap Goods Orders Nondef Ex AirAug P0.40%1.00%
09/27/2017 08:30Cap Goods Ship Nondef Ex AirAug P1.20%
09/27/2017 10:00Pending Home Sales MoMAug-0.50%-0.80%
09/27/2017 10:00Pending Home Sales NSA YoYAug-0.50%