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Fedspeak And 3Y Supply Headline Whilst Waiting For CPI Tomorrow

US TSYS
  • Cash Tsys trade richer after yesterday’s holiday thinned cheapening, and in doing so yields are back within the high end of Good Friday’s even more heavily thinned session post-payrolls (MNI’s Employment Insight found here).
  • 2YY -4.2bp at 3.966%, 5YY -4.0bp at 3.480%, 10YY -3.2bp at 3.385% and 30YY -2.7bp at 3.602%.
  • TYM3 trades 7+ ticks higher at 115-24. Resistance is seen close to yesterday’s high of 115-31+, after which lies 116-30 (Apr 5/6 high) with the key resistance at 117-01+ (Mar 24 high) still exposed. To the downside lies 115-02 (20-day EMA).
  • Fedspeak: ’23 voters. Chicago Fed’s Goolsbee (1330ET) and Philly Fed’s Harker (1800ET) both with text and Q&A plus Minneapolis Fed’s Kashkari even later (1930ET) with a moderated Q&A.
  • Data: The NFIB survey was the only data of the day and came in very slightly higher than expected at 90.1 (cons 89.8) after 90.9. Data focus firmly on tomorrow US CPI, with the MNI Preview to follow later today.
  • Note/bond issuance: US Tsy $30B 3Y note auction (91282CGV7) – 1300ET
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