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Awaiting Weekly Claims

US TSYS
  • Treasuries trading firmer for the most part, mirroring EGBs after paring early overnight gains to lower half of a relatively narrow overnight range. Curves flatter (2s10s -2.054 at -40.635) with short end rates lagging at the moment, 10Y yield -.0039 at -4.3361%.
  • Projected rate cut pricing still holding onto two 25bp cuts by year end following Wednesday's Retail Sales miss (and down-revisions to prior) and largely in-line CPI.
  • Another busy morning for economic data with weekly claims at 0830ET in addition to build permits, house starts and import/export price indexes. Industrial Production and Capacity Utilization follow at 0915ET.
  • Several scheduled Fed speakers ahead with Richmond Fed Barkin CNBC interview on CNBC and Fed VC Barr Senate hearing on fin-regs at 1000ET, Philly Fed Harker on higher education at 1030ET, Cleveland Fed Mester economic outlook at 1200ET. Atlanta Fed Bostic wraps up at 1550ET with moderated chat on economy. Mark your calendar: Jackson Hole economic symposium scheduled for August 22-24.
  • US Treasury auctions $80B 4W, $80B 8W bills at 1130ET.

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