2018 Economic Calendar
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Market Focus  

August 8, 2018
The EIA report will be closely watched for inventory changes as is the case every week, but especially in a supply focused market following the reinstatement of sanctions against Iran on Monday and news of output cuts by Saudi Arabia, both of which are supportive of prices. Last week, however, crude oil prices briefly fell to the lowest level since June following the EIA report of an unexpected inventory build, and prices continue to be under pressure. Buyers overwhelmed by larger Treasury auction sizes and $78 billion of coupon issuance this week may give a cool reception to the $26 billion in 10-year notes for sale this afternoon, as they did to the 3-year Tuesday, but a yield near 3.00 percent again may prove too attractive to miss.

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