Wednesday’s data will be of mild significance, the key release likely being November Pending Home Sales Index (mkt +0.5% m/m) at 10:00. It’s expected to rise again, suggesting an increase in existing home sales over the next month or two, even though November’s pace was already a 9.5-year high of 5.61 mn SAAR.
The only other monthly figure will be the Dallas Fed’s Texas Service Sector Outlook Survey, which last month reached a two-year high of +12.6. It stands a good chance of improving again, following Tuesday’s strong gain in the manufacturing analog, as prospects for the District have brightened in part due to OPEC’s decision to restrict supply. We’ll also receive the weekly Redbook Same-Store Sales data at 08:55.
Treasury will auction $13 bn in reopened 2-year floating rate notes at 11:30, and $34 bn in 5-year notes at 13:00.
MPH 100 HMA= 479.40
MPH 200 HMA= 481.00