With the introduction of the 2-Year Floating Rate Note Auction occupying yesterday's auction time slot, today will see both the 5 and 7yr auctions at 11:30am and 1pm respectively. That makes for a busier afternoon than usual, even for a Thursday (which already has several regularly recurring calendar events, including weekly Fed MBS buying).
The morning hours are no slouch, with two upper-middle tier economic reports at 8:30am in the form of Final GDP for the 4th quarter and Jobless Claims. That will be followed by Pending Home Sales at 10am.
Taken together, that makes for a fairly busy Thursday, but given the recent behavior of the stock lever, the economic data could easily lose out to a determined move in equities.
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