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MNI: FED'S POWELL STILL SEES POSSIBLE PATH TO SOFT LANDING

MNI: POWELL: FED PREPARED TO TIGHTEN FURTHER IF APPROPRIATE

FED'S GOOLSBEE: 'YOU CAN'T BACK OUT NOW' ON INFLATION FIGHT

MNI: BAKER HUGHES US RIG COUNT 625; OIL RIGS 505; GAS RIGS 116

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: BOE Long APF Operation on Monday

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

Marginally Cheaper Ahead Of NY Hours

US TSYS
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Cash Tsys are 1-2bp cheaper on the day, with some fresh, modest weakness in European & UK peers seeing no real feed through ahead of the NY session.

  • Some light pressure for Bunds helped push TY futures through Asia-Pac lows as Europeans filtered in earlier, although initial support at 109-03 remains untested.
  • That came after a break of Friday’s low saw selling extend a touch in Asia.
  • Contract last -0-06, volume curtailed by a Japanese holiday which kept cash markets closed until London hours.
  • Consumer dynamics surrounding the restart of student loan repayments and economic feedthrough from the UAW strike continue to generate interest.
  • Lower-tier data and Bill supply is due in NY hours on Monday.
  • Wednesday’s FOMC decision, SEP & post-meeting press conference (no change expected by an overwhelming majority in the BBG survey, while markets indicate the same) presents the domestic focal point for participants this week.
  • A weekend survey of academic economists, sponsored by the FT, saw most suggest that the Fed will deploy at least one further rate hike in the current cycle, while over 40% pointed to two or more further rate hikes.
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Cash Tsys are 1-2bp cheaper on the day, with some fresh, modest weakness in European & UK peers seeing no real feed through ahead of the NY session.

  • Some light pressure for Bunds helped push TY futures through Asia-Pac lows as Europeans filtered in earlier, although initial support at 109-03 remains untested.
  • That came after a break of Friday’s low saw selling extend a touch in Asia.
  • Contract last -0-06, volume curtailed by a Japanese holiday which kept cash markets closed until London hours.
  • Consumer dynamics surrounding the restart of student loan repayments and economic feedthrough from the UAW strike continue to generate interest.
  • Lower-tier data and Bill supply is due in NY hours on Monday.
  • Wednesday’s FOMC decision, SEP & post-meeting press conference (no change expected by an overwhelming majority in the BBG survey, while markets indicate the same) presents the domestic focal point for participants this week.
  • A weekend survey of academic economists, sponsored by the FT, saw most suggest that the Fed will deploy at least one further rate hike in the current cycle, while over 40% pointed to two or more further rate hikes.