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Markets await Fed minutes and retail earnings in data-heavy week
Money markets are pricing only a 27% chance of a 25-basis-point rate increase at the Fed's September meeting, while the Treasury will auction $16 billion of 20-year bonds this week.
LiveMint Markets said investors will closely watch the Federal Reserve meeting minutes due on Wednesday, seeking clues about policymakers' thinking on interest rates after the Fed kept borrowing costs unchanged. The outlet noted that expectations for a September rate increase have weakened following softer US employment data and a modest easing in inflation.
The week is also set to bring quarterly results from major US retailers, including Walmart, Target, Home Depot, Costco, Kroger, and Albertsons, which investors will use to gauge consumer spending and the broader state of the economy. LiveMint Markets added that US economic reports include preliminary purchasing managers' data for August, the Empire State manufacturing survey, and the Philadelphia Fed manufacturing survey.
LiveMint Markets also highlighted that bond markets will be in focus, with a $16 billion auction of 20-year Treasurys on Wednesday and an $8 billion sale of 30-year Treasury Inflation-Protected Securities on Thursday. The schedule also includes releases of the NAHB Housing Market Index and Empire State Manufacturing Survey on Monday, plus housing starts, industrial production, and pending home sales on Tuesday.