Financial and Commodity Previews and Analysis
Key news today includes: (1) weekly MBA mortgage applications (previous +3.3% with purchase sub-index +1.4% and refi sub-index +5.1%), (2) Aug PPI final demand (expected +0.3% m/m and +2.5% y/y, Jul -0.1% m/m and +1.9% y/y) and Aug PPI ex food & energy (expected +0.1% m/m and +2.1% y/y, Jul -0.1% m/m and +1.8% y/y), (3) Treasury auctions $12 billion of 30-year T-bonds, (4) Aug monthly budget statement expected -$119.0 billion, Jul -$42.9 billion, (5) EIA Weekly Petroleum Status Report.