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Corporate Earnings Highlight Tuesday's Docket

US TSYS SUMMARY

Treasuries continue to head lower with the curve steepening as equities rally - little on the data/supply calendar but a few Fed speakers and corporate earnings eyed.

  • Mar 10-Yr futures (TY) near session lows, down 7/32 at 136-31 (L: 136-30.5 / H: 137-07)
  • The 2-Yr yield is up 0.4bps at 0.1113%, 5-Yr is up 1.4bps at 0.4384%, 10-Yr is up 2.7bps at 1.1065%, and 30-Yr is up 2.6bps at 1.8801%.
  • Light newsflow overnight. While some of the recent frenzied trades are subsiding (Gamestop, silver, etc), S&P futs are pushing 3,800 again.
  • Probably the most interesting items on the calendar today are key corporate earnings reports (Amazon, Alphabet, ExxonMobil, Pfizer among them; UPS adj. EPS beat expectations).
  • Fed speakers: Dallas' Kaplan at 0830ET (on CNBC), and again at 1300ET; NY's Williams moderates a discussion at 1300ET; Cleveland's Mester at 1400ET.
  • In supply, $60B of 42-/119-day bills at 1130ET. NY Fed buys ~$1.225B of 7.5-30Y TIPS.
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