$102B in Treasury notes on the block this week

The US Treasury is scheduled to issue $102 billion in 2-year, 5-year and 7-year notes.

These auctions should afford Fed chief Ben Bernanke ample opportunity to increase his quantative easing policy by purchasing pieces of each tranche.

Speciality teen retailers Guess, American Eagle and J. Crew announce earnings and more importantly, outlook on the second-biggest shopping season, back to school.

MON 23

30-yr. TIPS auction

The US Treasury plans to sell $7 billion in inflation- indexed securities, also known as TIPS. Treasury lowered the overall size of the sale on Friday from $8 billion. Competitive bids at these single-price auctions determine the interest rate paid on each issue, which remains fixed.

A group of 17 securities dealers, known as primary dealers, are authorized and obligated to submit competitive tenders at Treasury auctions. Dealers can hold, resell, or trade the securities with other firms.

WED 25

Durable Goods Orders

Durable goods orders, July revision, tracks or ders placed with US manufacturers for imme diate and future delivery of factory hard goods.

Consumer Sentiment

This is the final reading for August on the state of the consumer. The earlier reading of 69.6 was better than estimates, as well as July’s reading. The Con sumer Survey questions US households each month on their house hold financial conditions and attitudes about the US economy.

FRI 27

Gross Domestic Product

The first reading had GDP at an annualized rate of 2.4 percent, but economists’ estimates believe that number will be lowered as the economy slowed and US factories pared back output after the first quarter. The GDP is the broadest measure of economic activity in the US.