Yahoo! Economic and Treasury Calendar

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ECONOMIC & TREASURY CALENDAR Apr 98

Mon Tue Wed Thu Fri

2

1
10:00 AM
- Construction Spending (Feb)

10:00 AM
- NAPM (Mar)

2

8:30 AM
- Initial Jobless Claims (Mar 27)

10:00 AM
- Factory Orders (Feb)

- 3 & 6 Month Bills Settle

- 1 Year Bill Settles

3

8:30 AM
- Employment Report (Mar)

10:00 AM
- Housing Completions (Feb)

10:25 AM
- ECRI Inflation Gauge (Mar)

6

- 3 & 6 Month Bill Auctions

7

9:00 AM
- Mitsubishi Retail Sales (Mar 31)

10:00 AM
- Wholesale Inventories (Feb)

2:40 PM
- LJR Redbook Retail Averages (Apr 3)

3:00 PM
- Consumer Installment Credit (Feb)

8

- Inflation-Indexed Security Auction

9

8:30 AM
- Producer Price Index (Mar)

8:30 AM
- Initial Jobless Claims (Apr 3)

- 3 & 6 Month Bills Settle

10

- GOOD FRIDAY

13

- 3 & 6 Month Bill Auctions

14

8:30 AM
- Advanced Retail Sales (Mar)

8:30 AM
- Consumer Price Index (Mar)

9:00 AM
- Mitsubishi Retail Sales (Apr 7)

9:00 AM
- Atlanta Fed Survey (Mar)

10:00 AM
- Real Earnings (Mar)

2:40 PM
- LJR Redbook Retail Averages (Apr 10)

15

8:30 AM
- Business Inventories (Feb)

- Inflation-Indexed Security Settles

16

8:30 AM
- Initial Jobless Claims (Apr 10)

10:00 AM
- Philadelphia Fed Survey (Apr)

- 3 & 6 Month Bills Settle

17

8:30 AM
- Merchandise Trade - BOP (Feb)

9:15 AM
- Industrial Production & Capacity Utilization (Mar)

20

- 3 & 6 Month Bill Auctions

21

9:00 AM
- Mitsubishi Retail Sales (Apr 14)

10:00 AM
- Housing Vacancies (1st Qtr)

2:00 PM
- Budget Stmt (Mar)

2:40 PM
- LJR Redbook Retail Averages (Apr 17)

- 2 Year Note Auction

22

- 5 Year Note Auction

23

8:30 AM
- Initial Jobless Claims (Apr 17)

- 3 & 6 Month Bills Settle

- 1 Year Bill Auction

24

27

10:00 AM
- Existing Home Sales (Mar)

- 3 & 6 Month Bill Auctions

28

8:30 AM
- Durable Goods Orders (Mar)

9:00 AM
- Mitsubishi Retail Sales

10:00 AM
- Consumer Confidence (Apr)

2:40 PM
- LJR Redbook Retail Averages (Apr 24)

29

10:00 AM
- New Home Sales (Mar)

30

8:30 AM
- Gross Domestic Product (1st Qtr)

8:30 AM
- Initial Jobless Claims (Apr 24)

8:30 AM
- Employment Cost Index (1st Qtr)

10:00 AM
- Chicago Purchasing Mgr (Apr)

- 3 & 6 Month Bills Settle

- 1 Year Bill Settles

- 2 & 5 Year Notes Settle

- Times shown are Eastern Standard Time

Last Month - Next Month

Price Movement Rationale

ECONOMIC
INDICATORS Traditional
Bond Market
Movement Rationale

Consumer Price Index (CPI) up Down Inflationary, conceivably reducing the future value of fixed rate securities.

Gross National Product (GNP) down Up Economic growth slows and the Fed loosens money by allowing rates to come down

Housing Starts up Down With a rise in housing demand, the Fed attempts to tighten by allowing rates to rise.

Industrial Production down Up The economy is slowing and the Fed allows interest rates to drop, stimulating growth.

Money Supply Figures up Down Generates fears the Fed may tighten monetary growth by allowing short-term interest rates to rise.

Personal Income up Down The higher one's income, the more one consumes, causing more demand and higher prices.

Retail Sales up Down Indicates the economy is expanding, causing inflationary pressure.

Unemployment up Up Lack of expansion; the Fed is likely to loosen credit policy to allow rates to come down.

Producer Price Index up Down Higher demand for goods and prices; the Fed is less accommodating in allowing rates to go lower.

ECONOMIC INDICATORS	Traditional Bond Market Movement	Rationale
Consumer Price Index (CPI) up	Down	Inflationary, conceivably reducing the future value of fixed rate securities.
Gross National Product (GNP) down	Up	Economic growth slows and the Fed loosens money by allowing rates to come down
Housing Starts up	Down	With a rise in housing demand, the Fed attempts to tighten by allowing rates to rise.
Industrial Production down	Up	The economy is slowing and the Fed allows interest rates to drop, stimulating growth.
Money Supply Figures up	Down	Generates fears the Fed may tighten monetary growth by allowing short-term interest rates to rise.
Personal Income up	Down	The higher one's income, the more one consumes, causing more demand and higher prices.
Retail Sales up	Down	Indicates the economy is expanding, causing inflationary pressure.
Unemployment up	Up	Lack of expansion; the Fed is likely to loosen credit policy to allow rates to come down.
Producer Price Index up	Down	Higher demand for goods and prices; the Fed is less accommodating in allowing rates to go lower.

The 'Price Movement Rationale' section is provided by Legg Mason Wood Walker, Inc., and is based on historical interpretation of the impact of various economic indicators on the bond market. These interpretations may change over time given the dynamic nature of fixed income markets. The information contained herein has been prepared from sources believed to be reliable but is not guaranteed by Yahoo or Legg Mason and is not a complete summary or statement of all available data.
Calendar by Legg Mason Wood Walker, Inc.
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