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Tsys Weaker Ahead Full Data Docket, Fed Speaker Schedule

US TSYS
  • Treasuries near recent overnight lows ahead a full day of economic data and Fed speakers. Carry-over weakness from Monday puts Treasuries near last Thursday's pre-PPI/Jobless claims levels.
  • Sep'24 10Y futures are currently trading -4.5 at 110-08.5 vs. 110-06.5 low - focus on technical support at 109-19+/109-00+ (50-day EMA / Low Jun 10 and key support). On the flipside, resistance above at 111-01 (Jun 14 high).
  • Cash yields are running mildly higher: 5s +.0139 at 4.3170%, 10s +.0116 at 4.2925%, 30s +.0166 at 4.4221%, while curves look mildly steeper: 2s10s +0.353 at -48.317, 5s30s +0.097 at 10.155.
  • Busy session ahead with Retail Sales and NY Services activity at 0830ET, Industrial Production and Capacity Utilization at 0915ET, followed by Business Inventories at 1000ET and Total Net TIC Flows this afternoon at 1600ET.
  • Myriad Fed speakers today with NY Fed Williams starting off with appearance on Fox Business at 0830ET. MNI hosts a webcast with Richmond Fed President Barkin on his outlook for the US economy and Fed policy at 1000ET, Link: MNI Webcast Registration.
  • Boston Fed Collins follows with keynote address at Lawrence Partnership annual meeting at 1140ET. Later this afternoon: Dallas Fed Logan moderated Q&A at 1300ET, Fed Gov Kugler on economy, monetary policy at 1300ET, StL Fed Musalem on economy, monetary policy at 1320ET, Chicago Fed Goolsbee panel discussion at 1400ET and Boston Fed Collins Yahoo Finance interview at 1640ET.
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