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What to Watch: Russia/Ukraine Headlines, Earnings, Home Sales

MARKET INSIGHT

Tsys firmer on moderate volumes w/ TYU2 just over 260k, extending overnight highs (30YY slipped to 3.1300%) after recent Russia foreign affairs minister Lavrov headlines. Lavrov stated "If the West delivers long-range weapons to Kyiv, geographical objectives in Ukraine will be advanced even further .. from just the Donetsk and Luhansk People's Republics to a number of other territories".

  • Limited data at 0830ET:
    • Existing Home Sales (5.41M, 5.40M); MoM (-3.45%, -0.2%)
  • Tsy auctions:
    • US Tsy $30B 119D bill CMB at 1130ET
    • US Tsy $14B 20Y Bond auction re-open (912810TH1) at 1300ET
  • Equities: trade mildly weaker on Lavrov-tied risk-off action, SPX eminis currently off lows (3924.5) at 3930.0 -7.5.
  • Pre-open earnings: Most surpassing estimates, still waiting on Abbott Labs ($1.119 est).
    • Announced: Elevance Health (ELV) $8.04 vs. $7.771 est, M&T Bank $310 vs. $2.854, MarketAxess (MKTX) $1.78 vs. $1.718, Biogen (BIIB) $5.25 vs. $4.102, Nasdaq (NDAQ) $2.07 vs. $1.909.
    • Sampling of after the close annc's: Tesla (TSLA) $1.711, Alcoa (AA) $2.392, Discover (DFS) $3.798, United Airlines (UAL) $1.884.
  • Cross asset: Gold weaker (-4.43, 1707.24), Crude weaker (WTI -2.01 at 102.21).

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