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US TSYS: Futures Stronger Ahead Of CPI Data

US TSYS
USBulletMarketsFixed Income BulletsNorth America

In today's Asia-Pac session, TYM5 is 110-30, 0-03+ from closing levels. 

  • Cash US bonds are dealing ~1bp richer after yesterday’s heavy session. 
  • The February CPI report is the highlight of today’s US session, while some attention will be paid later in the morning to the Bank of Canada which is expected to deliver a 25bp cut.
  • Analyst unrounded estimates see core CPI inflation easing to a still solid 0.28% M/M in February after a far stronger-than-expected 0.45% M/M in January. This report won't influence March's FOMC decision, but with only one more report before the May decision, the main risk given current market pricing is that the data could largely cement a "hold" until at least June. (see MNI US CPI Preview here)
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In today's Asia-Pac session, TYM5 is 110-30, 0-03+ from closing levels. 

  • Cash US bonds are dealing ~1bp richer after yesterday’s heavy session. 
  • The February CPI report is the highlight of today’s US session, while some attention will be paid later in the morning to the Bank of Canada which is expected to deliver a 25bp cut.
  • Analyst unrounded estimates see core CPI inflation easing to a still solid 0.28% M/M in February after a far stronger-than-expected 0.45% M/M in January. This report won't influence March's FOMC decision, but with only one more report before the May decision, the main risk given current market pricing is that the data could largely cement a "hold" until at least June. (see MNI US CPI Preview here)