It's more or less impossible that we'll see any change in policy stance with this Wednesday's FOMC Announcement, but it's still on the radar as a relevant event. Markets are interested to see how the Fed might react to recent developments, which include European QE and the ongoing slide in oil, among other things. Again, the reaction wouldn't have anything to do with current monetary policy. It could, however, come in the form of a change in verbiage that hints at more patient rate-hike timing.
Before we hear from the Fed, the first two days of the week already look set to focus on the market-based reaction to the weekend's Greek elections. As expected, the anti-austerity party won, but it's not yet clear if they'll have enough seats to govern alone (if they don't, they'll likely form a coalition with a smaller party). That's an important factor in market volatility at the beginning of the week as it may affect the speed and scope of Greece's efforts to exit its bailout agreement with the Eurozone.
The rest of the week's scheduled data plays second fiddle to all of the above, but can still have some impact. Data highlights include Durable Goods on Tuesday and GDP on Friday. Treasury auctions of 2, 5, and 7 year notes happen from Tuesday through Thursday, but shouldn't have much of an impact.
MBS |
FNMA 3.0
102-24 : +0-00
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FNMA 3.5
105-06 : +0-00
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FNMA 4.0
106-28 : +0-00
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Treasuries |
2 YR
0.5150 : +0.0250
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10 YR
1.7980 : +0.0089
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30 YR
2.3750 : +0.0097
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Pricing as of 1/26/15 7:24AMEST |
Tomorrow's Economic Calendar
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