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Fixed Income Focus: Payrolls Report On Tap...Q2 Corporate Financial Accounts
Treasury bill yields saw a corrective curve flattening selloff this past week, following the large bullish move earlier in the month ahead of month-end/quarter-end and the October 14 date for money market fund rule changes. The Treasury coupon curve wound up very little changed on the week though, with the 2-year yield less than a basis point higher late Friday afternoon, and yields further out the curve just over a basis point lower.

According to the Financial Accounts data, there was a $75.012 billion increase in the value of outstanding corporate debt during the second quarter of this year. As usual, issuance was led by the nonfinancial sector, with a more modest increase in the value of outstanding debt issued by foreign corporations, but an offsetting net decline in the value of outstanding financial sector debt. Foreign investors had the largest increase in corporate debt holdings in Q2, but there was a plunge in the value of holdings by the household sector.
Sep  30  
Fixed Income Focus

US Economic Chartbooks
Please see our Economic Week Ahead Chartbook for a discussion of next week's economic releases provided in a visually friendly format that includes graphs, brief descriptions of SMR's forecasts, and links to detailed data previews. If you missed anything from last week, see our Economic Week in Review Chartbook for a look back at the releases with links to full analyses.
Sep  30  

Oxford Economics Weekly Research Highlights
As part of our partnership with Oxford Economics, we are now sharing Oxford Economics’ Weekly Research Highlights. It includes their top research pieces from the past week and a list of other research they published. Click here to view the Weekly Research Highlights from last week
Sep  30  
Weekly Research Highlights

Oxford Economics/SMRA Podcast
Earlier today Greg Daco, Kathy Bostjancic (from Oxford Economics), and Rubeela Farooqi participated in a Oxford Economics/SMRA Podcast regarding the outlook for the US economy. Listen to the Podcast here
Sep  22  
Intraday Updates

Yellen in Brief - Why Not Rather than Why?
Key Take-Aways:
* Yellen seemed to be presenting the arguments as to why the FOMC did not hike rates rather than why it was on hold for now.
* Monetary policy characterized as "modestly accommodative", perhaps reflecting downgrade in longer-run fed funds rate.
* FOMC does not suffer from "groupthink".
* Emphatically rejected that the FOMC is political in its decision-making.
Sep  21  
Federal Reserve

Latest Research HERE for Research Window
30 SepTreasury Market Summary For Friday, September 30
30 SepTechnical Intermarket Outlook
30 SepFixed Income Focus: Payrolls Report On Tap...Q2 Corporate Financial Accounts
30 SepEconomic Week Ahead Chartbook - October 3 to October 7
30 SepEconomic Week in Review Chartbook - September 26 to September 30
30 SepPreview September Light Vehicle Sales
30 SepU.S. Monthly Economic Snapshot Table
30 SepAnalysis - Final September Univ of Mich Consumer Sentiment Index 91.2
30 SepData Flash! fSep U Mich Consumer Sentiment 91.2

Chart of the Day
10-Year Fails
10-Year Fails

Monday, 3 Oct
Markit US Manufacturing PMI  fSep 
  Construction Spending MoM  Aug  EST +0.3% Vs Prev's 0.0%
  ISM Manufacturing  Sep  EST 49.6 Vs Prev's 49.4
  Treasury will announce a 4-week bill auction
  Treasury will hold a 3-month and 6-month bill auction
  Domestic Vehicle Sales  Sep  EST 13.1M Vs Prev's 13.13M
  Total Vehicle Sales  Sep  EST 16.9M Vs Prev's 16.91M
  Freddie Mac will announce reference bills