August 09, 2022 11:51 GMT
Tsys trading lower on light volumes (TYU2<230k), unwinding portion of Mon's bounce - ebb and flow as markets gear up for Wednesday's key CPI data (0.2% est, 1.3% prior); YoY (8.7% est, 9.1% prior). In the meantime -
- Economic data up at 0830ET (prior, est):
- Nonfarm Productivity (-7.3%, -4.6%)
- Unit Labor Costs (12.6%, 9.5%)
- No scheduled Fed speakers again today, resume Wednesday:
- Aug-10 Chicago Fed Evans, mon-poli/eco-outlook, Drake Univ, 1100ET
- Aug-10 MN Fed Kashkari on inflation, Aspen Eco Strategy Grp, 1400ET
- Treasury auctions:
- US Tsy $34B 52W bill auction at 1130ET
- US Tsy $42B 3Y note auction (91282CFE6) at 1300ET
- Corporate Issuance expected to remain robust after $6.25B Credit Suisse 3Pt issuance helped push Mon's swappable issuance just over $24B. Opinion goes issuers securing funding before rate hikes to buy back outstanding shares.
- Cross asset: Stocks mildly weaker (SPX eminis -15.75 at 4126.00) as earnings cycle resumes; Spot Gold firmer at 1791.14 +2.45; Crude firmer (WTI +1.12 at 91.88).