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What to Watch:

MARKET INSIGHT
Volatile overnight trade, heavy volumes as Russia/Ukraine crisis deepens, rates well bid but off initial gap-bid highs.
  • Headline watching: Russian nuclear forces placed on enhanced combat duty rattling mkts. Piling on sanctions: US, EU, France, Germany, Italy, UK and Canada agreed to bar select Russia banks access to SWIFT network Saturday. Several EU countries close airspace to Russia flights. Meanwhile: US SENDING DELEGATION OF FORMER SENIOR DEFENSE AND SECURITY OFFICIALS TO TAIWAN ON MONDAY, Rtrs.
  • Economic data at 0830ET:
  • Advance Goods Trade Balance (-$100.5B rev, -$99.3B)
  • Wholesale Inventories MoM (2.2%, 1.2%)
  • Retail Inventories MoM (4.4%, --)
  • At 0945ET: MNI Chicago PMI (65.2, 62.0)
  • At 1030ET: Dallas Fed Manf. Activity (2.0, 3.5)
  • Fed speak at 1030ET: Atlanta Fed Bostic, moderated virtual discussion on U.S. economy hosted by Harvard, no text but will have audience Q&A
  • US Tsy bill auctions at 1130ET: $60B 13W, $51B 26W
  • Later in week: Fed Chair Powell semi-annual mon/pol testimony to House Financial Services Comm on Wed, Senate Banking Comm Thu both 1000ET
  • Feb nonfarm payrolls Friday (+467k, +400k)

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