Jiminy, that bond market sure is making life interesting.
After a robust wholesale price report stunned investors, incessant chatter of Japanese institutions selling Treasurys clipped the market. With Treasury yields shooting higher, stock-market investors have grown increasingly edgy.
Another batch of inflation data, due out Thursday morning, could make for another nervous session in the bond and stock markets. And for those tired of looking for inflation, the markets will get to digest several reports at 8:30--including some talk of everyone's favorite holiday topic: retail sales.
Consumer Price Index
(8:30 AM EST): Economists anticipate that the CPI for November will hold steady with a gain of 0.3%. A heavier reading would like sting the bond market.
(8:30 AM EST): Analysts anticipate that retail sales rose at a rate of 0.3% in November, just up from October's 0.2% increase.
Initial Unemployment Claims
(8:30 AM EST): The rolling weekly rate is expected to rise to about 342,000 jobs, compared with last week's 337,000 reading.
Mortgage Bankers Association Indexes
(7:30 AM EST): The measure of refinancing, applications and purchasing indexes provides a solid insight into the housing market. Recent interest-rate jumps won't yet be reflected in the reading.
Money-market mutual fund assets
(6:00 PM EST): Investment Co. Institute weekly report on asset levels in money market funds. Man, those money-market funds still have a lot of dough in them!
(10:00 AM EST): November figures from the Labor Department will most certainly contrast with those fake earnings reports. Real Earnings dropped 1.5 % in October after gaining 0.9% in September.
By Dave Kansas