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What to Watch: PPI, Geopol Risk Cools, Fed Nomination Hearings

MARKET INSIGHT
  • More likely to induce gap moves in rates: Geopolitical headlines on Russia/Ukraine. Markets react positively (risk on) amid headlines that Russia withdrawing some troops from Ukraine border.
    • Tsys gapped lower (30YY tapped 2.3447% high, 2.3277% last), equities surged, SPX emini currently +68.0 at 4462.0.
    • NATO head Stoltenberg said there's "no concrete sign of de-escalation", yet remains "cautiously optimistic", Bbg.
  • Data picks up Tuesday with Jan PPI: MoM (0.3% rev, 0.5%); YoY (9.7%, 9.1%) at 0830ET.
    • On PPI, Morgan Stanley economists forecast headline data to "increase 0.38%M vs. +0.17%M prior, lowering the y/y from 9.8% to 8.9% ... supported by a pickup in food prices and little change in energy prices. We expect core PPI to rise a lesser 0.29%M vs. +0.37% prior, lowering the y/y from 6.9% to 6.2%."
  • Senate Banking Comm nomination hearing of Fed members scheduled to start at 1415ET.
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