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What to Watch: Housing Data, Fed Speak, Stock Earnings

MARKET INSIGHT

Rates trading weaker (30YY taps 2.9589 high, 2.9338% last), curves mildly steeper (2s10s +.856 at 37.797, 5s30s +.947 at 4.802). Very light volumes w/ much of Europe out for Easter Monday, TYM2 just over 160k at the moment.

  • Limited data up at 0830ET:
    • NAHB Housing Market Index (79, 77) at 1000ET
    • US Tsy $57B 13W, $48B 26W bill auctions at 1130ET
  • Scheduled Fed speakers this afternoon:
    • StL Fed Bullard on economy, policy outlook, Council on Foreign Affairs, no text, no media Q&A at 1600
  • Geopol risk: Keeping eye on Russia war in Ukraine for developments. Kyiv reported several missile strikes in the Western city of Lviv - just 70km east of the Polish border, over the weekend.
  • Stocks weaker, off early overnight lows (SPX emini -16.0 at 4371.50) as earnings cycle resumes. Most already announced: Synchrony Financial (SYF), Bank of NY Mellon (BK), Bank of America (BAC) all beating estimates. Coming up: Charles Schwab (SCHW) ahead the open; JB Hunt Transport (JBHT) after the close.

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