2017 Economic Calendar
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Market Reflections  

September 6, 2017
A very heavy news day is led by President Trump and congressional leaders who agreed to a stop-gap deal that pushes the risk of a government shutdown from October to December. Demand for the safety of bonds eased immediately on the news with the 10-year Treasury yield up several basis points to what is still, however, a very low 2.10 percent.

Other news includes the resignation of Fed Vice Chair Fischer which gives the administration one more empty FOMC seat to fill. Economic data are led by the trade deficit for July which, kicking off net exports for third-quarter GDP, held steady. Service sector data from both Markit Economics and ISM were solidly strong in contrast to the Fed's Beige Book which continues to describe the economy as no better than modest to moderate which are conditions that won't be raising heat for more hawkish monetary policy.

Oil, just over $49, added more than 50 cents as Hurricane Irma bears down on Florida. The Dow added 0.3 percent to 21,807 while the dollar was little changed.

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