US-CHINA: USTR Announces Probe of China Compliance

Oct-24 15:47

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* "USTR INITIATES TRADE INVESTIGATION OF CHINA'S IMPLEMENTATION OF THE PHASE ONE AGREEMENT WITH US...

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US DATA: August Building Permits Upped Slightly, Still Weak

Sep-24 15:45

August building permits were revised up in the final reading to 1,330k (1,312k prelim).

  • That's still a drop from 1,362k in July for a cycle low (weakest since 2019, ex-pandemic 2020).
  • Single-family home permits were basically unrevised at 858k (856k prelim), with multi-units now estimated at 472k (456k prelim).
  • This could on the margins lead to a small uptick in residential investment estimates, including the Atlanta Fed GDPNow reading due out Friday - it currently estimates -6.3% Q/Q SAAR residential investment, which had been downgraded from -4.6% after the preliminary housing data (starts could yet be revised in the September report due out October 17).
  • But overall, there are no clear signs of a nascent pickup in residential investment activity.
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FED: US TSY 1Y-10M FRN AUCTION: HIGH MARGIN 0.200%; ALLOTMENT 44.42%

Sep-24 15:32
  • US TSY 1Y-10M FRN AUCTION: HIGH MARGIN 0.200%; ALLOTMENT 44.42%
  • US TSY 1Y-10M FRN AUCTION: DEALERS TAKE 28.87% OF COMPETITIVES
  • US TSY 1Y-10M FRN AUCTION: DIRECTS TAKE 0.89% OF COMPETITIVES
  • US TSY 1Y-10M FRN AUCTION: INDIRECTS TAKE 70.23% OF COMPETITIVES
  • US TSY 1Y-10M FRN AUCTION: BID/CVR 3.15

FED: US TSY 17W BILL AUCTION: HIGH 3.805%(ALLOT 60.09%)

Sep-24 15:32
  • US TSY 17W BILL AUCTION: HIGH 3.805%(ALLOT 60.09%)
  • US TSY 17W BILL AUCTION: DEALERS TAKE 28.59% OF COMPETITIVES
  • US TSY 17W BILL AUCTION: DIRECTS TAKE 6.10% OF COMPETITIVES
  • US TSY 17W BILL AUCTION: INDIRECTS TAKE 65.32% OF COMPETITIVES
  • US TSY 17W BILL AUCTION: BID/CVR 2.93