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What to Watch: Turn Around Tuesday, Six Fed Speakers on Tap


Turn-around Tuesday, FI trades weaker on modest volumes (TYM2 just over 315k) , curves flattening (2s10s -2.071 at 28.555, 5s30s -1.712 at 3.703) as short end prices additional rate hikes by year end. Aside from busy round of data this morning, six Fed speakers on tap through the day, Chairman Powell at 1400ET.

  • Economic data on tap:
    • Retail Sales Advance MoM (0.5%, 1.0%); Ex Auto MoM (1.1%, 0.4%); Ex Auto and Gas (0.2%, 0.7%); Control Group (-0.1$, 0.8%) at 0830ET
    • Industrial Production MoM (0.9%, 0.5%); Capacity-U (78.3%, 78.5%), 0915ET
    • Business Inventories (1.5%, 1.9%) at 1000ET
    • NAHB Housing Market Index (77, 75), 1000ET
  • Scheduled FED speakers:
    • StL Fed Bullard, mon-pol/economic outlook, no text at 0800ET
    • Philly Fed Harker healthcare economic driver, 0915ET
    • MN Fed Kashkari moderated townhall discussion at 1230ET
    • Fed Chairman Powell live interview WSJ at 1400ET
    • Cleveland Fed Mester panel discussion, no text or Q&A at 1430ET
    • Chicago Fed Evans economic outlook at 1845ET
  • US Tsy auction: $34B 52W bill auction at 1130ET
  • Geopol risk: Rhetoric cooler than of late: No Big Difference If Sweden, Finland Join NATO: Speaking at the 'New Horizons Educational Marathon' Russian Foreign Minister Sergey Lavrov stating that there would be 'no big difference' if Sweden and Finland join NATO as both had 'long participated in NATO military drills'.

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