Powell & Supply Deluge Due

T-Notes -0-01 at 131-22+ in early trade.

• Cash Tsys cheapened across the curve on Friday, with the 10-Year sector providing the weak point, softening by ~4.0bp come the bell. Data was headlined by a much stronger than expected round of PPI readings (along with delays to the release), with Fedspeak once again providing nothing meaningful for participants to digest. T-Notes recovered from post-PPI lows, aided by a round of TYM1 buying during the NY morning, going out around mid-range.
• Fed Chair Powell will appear on CBS' 60 Minutes at 19:00 NY (00:00 London). A preview of the interview saw Fed Chair Powell note that "what we're seeing now is really an economy that seems to be at an inflection point. And that's because of widespread vaccination and strong fiscal support, strong monetary policy support. We feel like we're at a place where the economy's about to start growing much more quickly and job creation coming in much more quickly. The principal risk to our economy right now really is that the disease would spread again. It's going to be smart if people can continue to socially distance and wear masks." CBS notes that Powell "also discusses the effectiveness of the tactics employed by the Federal Reserve and Congress to offset the pandemic's economic effects and discusses inflation and other topics."
• There is little else of note on the Asia-Pac economic docket on Monday, with continued signs of geopolitical angst surrounding U.S. relations with Russia, China & Iran (all of which are well-documented) still evident in weekend news flow. Looking ahead to Monday's NY session, the focus will fall on an atypical dual auction offering, with both 3- & 10-Year Tsy supply due.