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Waiting for 5Y Auction

OUTLOOK

With data out of the way, weaker equities (ESU1 -35.5) a tail wind for Tsys as they continue to grind higher. Traders gearing up for the US Tsy $61B 5Y Note auction. Relative calm ahead Wednesday's US Data/Speaker Calendar (prior, estimate):

  • Jul-28 0830 Retail Inventories MoM (-0.8%, 0.3%)
  • Jul-28 0830 Wholesale Inventories MoM (1.3%, 1.1%)
  • Jul-28 0830 Advance Goods Trade Balance (-$88.1B, -$88.0B)
  • Jul-28 1400 FOMC policy annc

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