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Holding Above Support Ahead Wkly Claims, Flash PMIs, Fed Speakers

US TSYS
  • Cash Tsys are running steady to mixed at the moment. Narrow ranges and flatter curves taking cues from core/semi-core EGBs after varied European flash PMIs overnight: France stronger, Germany weaker than expected while overall measures were above consensus in the Eurozone.
  • TYH4 currently +1 at 109-21 vs. 109-18.5 low - just above initial technical support at 109-17/15 (50.0% of Oct 19 - Dec 27 climb / Low Feb 16); technical resistance above at 110-17.5 (Feb 15 high). Heavy volumes tied to Mar'24/Jun'24 quarterly futures roll. Curves flatter: 2s10s -1.444 at -36.396, 10Y yield at 4.3069% -.0118.
  • US data schedule limited to the first half with Initial Jobless/Continuing Claims and Chicago Fed Nat Activity Index at 0830ET. S&P flash PMIs up next at 0945ET followed by Existing Home Sales at 1000ET.
  • Several Fed speakers are scheduled mostly in the afternoon. Atlanta Fed President Jefferson starts off at 1000ET at a moderated Q&A international economics event (text, Q&A, livestreamed). Philly Fed President Harker Economic Outlook (text, Q&A and livestreamed) follows at 1515ET. Separate events after the close at 1700ET: Fed Gov Cook speaks at a macro-finance conference, MN Fed President Kashkari panel discussion on outlook, (Q&A, livestreamed). Fed Gov Waller Speaks on Economic Outlook (text, Q&A and livestreamed) at 1935ET.
  • US Treasury auction supply: $95B 4W, $90B 8W Bill auctions at 1130ET, $9B 30Y TIPS auction (912810TY4) at 1300ET.

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