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Post Wholesale Data React

US TSYS
  • Treasury futures holding near lows, little reaction to in-line Wholesale Inventories data of -0.4% while MoM Wholesale Trade Sales comes out at -1.3%, much weaker than an estimated - 0.8% (2.3% prior down-revised to 2.0%).
  • Jun'24 10Y futures trade 108-27.5 (-5) vs. 108-25.5 low, well above technical support of 108-15.5 (20-day EMA).
  • Focus turns to trio of scheduled Fed speakers: Fed VC Jefferson moderated discussion careers in economics at 1100ET, Boston Fed Collins fireside discussion with MIT students at 1145ET, Fed Gov Cook on financial stability at Brookings Inst, Q&A at 1330ET.
  • US Treasury supply continues with $60B 17W Bill auction at 1130ET, $42B 10Y Note auction (91282CKQ3) at 1300ET.

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