VAST MAJORITY OF FOMC SAY PRUDENT TO SLOW QT FAIRLY SOON

BOC: IF THINGS EVOLVE AS EXPECTED, WILL BE APPROPRIATE TO CUT

BOC SAYS JUNE RATE CUT IS WITHIN REALM OF POSSIBILITIES

MNI BRIEF: Brazil Inflation 3.93% In March, Lowest In 9 Months

MNI Brief: China Targets Standards Update To Support Trade-ins

MNI BRIEF: Fitch China Outlook Downgrade Regrettable - MoF

MNI: US MAR TREASURY BUDGET -236.5B

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: 3/7/15+ Year BTP Auction Thursday

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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What to Watch: Housing Data, Fed Speak, Weaker Stocks

MARKET INSIGHT
FI trading weaker, off midmorning London session highs after multiple Block sales in 5s (-30k in 5k lots) and 10s (-28k mostly 5k lots). Current levels near lows on decent volumes (TYM2 just over 420k), curves mildly mixed after Tue flattening (2s10s +.452 at 28.403, 5s30s -.113 at 1.812) short end moderating after pricing in additional rate hikes by year end Tuesday.
  • Economic data on tap at 0830ET
    • Housing Starts (1.793M, 1.756M); MoM (0.3%, -2.1%)
    • Building Permits (1.870M rev, 1.820M); MoM (0.30% rev, -2.7%)
  • Scheduled FED speakers:
    • Philly Fed Harker economic outlook, text and Q&A at 1600ET
  • US Tsy auctions:
    • $17B 20Y Bond auction at 1300ET (912810TH1)
    • $34B 52W bill auction at 1130ET (rolled over from Tuesday)
  • Eyes on weaker stocks: US retail giant Target's miss on EPS and weaker guidance is dragging stock futures lower. Target is now down 17% premarket; it had been an outperformer this year, down 7% this year as of Tuesday vs -26% for the S&P consumer discretionary index.
  • Geopol risk: 'SWE Should Not Expect NATO Membership w/o Returning Terrorists': Turkish President Recep Tayyip Erdogan speaking to the parliamentary group of his Justice and Development Party (AKP) on Sweden and Finland NATO applications.
  • Meanwhile, No Movement In Peace Talks w/Ukraine: Wires carrying comments from the Kremlin spox Dmitri Peskov. States that there are 'no movements in peace talks with Ukraine'.
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