Banks and Federal offices are closed today. There were no Fed actions, no Treasury auctions and no 4 week bill announcement. The 13 and 26 week bills will be auctioned tomorrow. The 4 week bill will be announced tomorrow and auctioned Wednesday. With just the 4 week, 13 week, and 26 week bill auctions, no major developments are expected. Of primary interest will be whether the Fed again cuts the size of the 4 week bill. We should also keep an eye out for the Monthly Treasury Statement due out on Tuesday, to see if receipts are in line with the huge decline in the month to date figure reported on September 30. There are often significant revisions between that report and the monthly final report which is usually published on the 8th business day of the next month.
Publication Note: Your editor will be traveling this week. The Fed Report will not be posted Tuesday through Thursday. The major weekly update will be posted either late Friday or early Saturday. We will return to a regular publication schedule of 3 postings per week on the following week.
The Professional Edition stock market update will be posted as usual this evening.