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What to Watch: Durables, Cap Goods, Pend Home Sales, Tsy Sales

MARKET INSIGHT

Tsys trade steady/mixed, near middle narrow overnight range. Decent volumes (TYU2>350k) more tied to Sep/Dec rolls picking up momentum than outright trade w/ accts sidelined ahead Friday's Jackson Hole economic summit. This morning's economic data kicks off at 0830ET:

    • Durable Goods Orders (2.0%, 0.8%); ex-trans (0.4%, 0.2%)
    • Cap Goods Orders Nondef Ex Air (0.7%, 0.3%); ship (0.7%, 0.5%);
    • Pending Home Sales MoM (-8.6%, -2.8%); YoY (-19.8%, -21.4%) at 1000ET
  • Treasury auctions:
    • US Tsy $22B 2Y FRN note auction (91282CFD8) 1130ET
    • US Tsy $30B 119D bill CMB auction 1130ET
    • US Tsy $45B 5Y note (91282CFH9) 1300ET
  • Fed Speak: KC Fed's annual Jackson Hole Economic Symposium kicks off Friday: Reassessing Constraints on the Economy and Policy, Chairman Powell scheduled to speak at 1000ET (0800 local), text is expected but no Q&A. Full agenda to be released Thursday evening at 2000ET.

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