It's just another week in October as far as the scheduled data calendar is concerned, but if you're in the market for fed-speak, it just happens to be their homecoming week.  Well, it might as well be with the schedule of speakers:

  • Monday
    • Bernanke at 11AM Monday
  • Tuesday
    • Plosser at 8pm
  • Wednesday
    • Beige Book at 2pm
    • Rosengren at 430pm
  • Thursday
    • Rosengren (yes, again) at 1030
    • Dudley at 130pm
    • Fed balance sheet (as always)
  • Friday
    • Bernanke at 830
    • Kohn at 1130
    • Fed vs. Barron's at 7pm Flag Football Homecoming Game
  • Saturday
    • Homecoming Dance and Afterparty At Ben's Casbah, time and location secret.

Ok, so a few inclusions in the above list have not yet been verified, but everything up until noon on Friday has been...  Whatever the case, this is fat city for those interested in the impending interest rate currents, or rather, it has the POTENTIAL to be...

Scheduled data doesn't show up until tomorrow, so the focus this AM is on Ben and beyond that, speculation and headline responses.  So far this AM, MBS is down four ticks at 100-20.  10yr hovering around 3.435 and potentially indicating  a bounce off those 100-20 lows for MBS.  We'll update you if we drop past the morning lows of 100-19, but as you can see in the chart below, even then, we'd still be on the high side of Friday's range.

MBS, Tsy, and LIBOR Quotes