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What to Watch: Multiple Fed Speakers, CPI Wed

MARKET INSIGHT

FI trades stronger, upper half overnight range on decent volumes (TYM2>520k), yield curves mixed (2s10s -1.524 at 42.269, 5s30s +1.221 at 9.517).

  • No significant economic data Tuesday, focus on FED speakers:
    • NY Fed Williams, NABE/Bundesbank, moderated Q&A, at 0740ET
    • Richmond Fed Barkin on inflation , Q&A, 0915ET
    • MN Fed Kashkari and Fed Gov Waller moderated discussion, 1300ET
    • Cleveland Fed Mester mon-pol panel discussion, text, Q&A, 1500ET
    • Atlanta Fed Bostic mon-pol discussion, text, Q&A, 1900ET
  • Economic resumes Wed w/ focus on CPI at 0830ET:
    • CPI MoM (1.2%, 0.2%; YoY (8.5%, 8.1%)
    • CPI Ex Food and Energy MoM (0.3%, 0.4%); YoY (6.5%, 6.0%)
  • Geopol risk: Market remains alert for developments on Russia war in Ukraine, knock-on effect to markets. Wires reporting comments from European Commission spox stating that the EU's talks with Hungary on agreeing to a sixth package of sanctions on Russia have been 'constructive' but that 'work continues'.
  • Cross-Asset Roundup:Crude weaker but rebounding (WTI -1.66 at 101.43), prices fell around time headlines dropped: EU Russia oil ban delay ; Gold stronger (+8.93 at 1863.10); SPX holding modest gains (ESM2 +28.0 at 4015.5).

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