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Fed Speakers, 2-Yr Supply Eyed

US TSYS SUMMARY
  • A rangebound overnight session for Treasuries, with equities likewise stabilizing after Monday's sharp moves. Plenty of Fed speakers today and 2-Yr supply eyed.
  • Dec 10-Yr futures (TY) steady at 139-18, only 3.5 tick range (L: 139-16.5 / H: 139-20). The 2-Yr yield is down 0.2bps at 0.1351%, 5-Yr is up 0.2bps at 0.2675%, 10-Yr is up 0bps at 0.6659%, and 30-Yr is down 0.1bps at 1.4135%.
  • Having already released the testimony text Monday, few surprises expected from Fed Chair Powell before the House Financial Services Committee today (starts at 1030ET - alongside Treas Sec Mnuchin), but watch for any commentary on the fiscal support front.
  • Also making appearances are Chicago Fed's Evans (1000ET), Richmond's Barkin (1200ET), and Atlanta's Bostic (1500ET).
  • In data, at 0830ET we get Sep Philly Fed non-manufacturing, then at 1000ET: Aug existing home sales alongside Sep Richmond Fed manufacturing.
  • In supply, $60B in 42-/119-day bills sold at 1130ET, with $52B in 2-Yr notes at 1300ET. NY Fed buys ~$6.025B of 4.5-7Yr Tsys.
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