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USDCAD TECHS

Impulsive Rally Extends

US TSYS

Late Eurodollar/SOFR/Treasury Option Roundup

EURJPY TECHS

Price Is Below The 50-Day EMA

US

Late Corporate Credit Update

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What to Watch: Fed Speak, Geopol Headline Watching

MARKET INSIGHT
Tsys trading weaker, near lows ahead the NY open, 30YY taps 3.1928% high, amid rather decent volumes: TYZ>325k for a no data day. US FI sold off following higher than expected German PPI (+5.3%, +37.2% YoY due to surge in energy prices); UK retail sale up 0.3% last month, but the cost of those sales increased more rapidly by 1.3%.
  • No economic data Friday, just Richmond Fed Barkin at Maryland county association conference at 0900ET, Q&A expected. Focus on next week's annual Jackson Hole Economic Symposium: Reassessing Constraints on the Economy and Policy on Friday, August 26. Chairman Powell will discuss the Fed's economic outlook at 1000ET (0800 local), text is expected but no Q&A.
  • Treasury auctions resume next week:
    • $44B 2Y notes on Tues,
    • $22B 2Y Note FRN reopen and $45B 5Y Note on Wednesday
    • $37B 7Y Note on Thursday
  • Equity earnings, still some notable announcements next week: Nvidia (NVDA) late Wednesday $508 est, Dell late Thursday $1.636 est
  • Geopol: Japanese Foreign Minister Yoshimasa Hayashi has told Nikkei Business Daily that the Japanese government will look into arranging a meeting between Japanese Prime Minister Fumio Kishida and Chinese President Xi Jinping.
    • According to Nikkei, the meeting would most likely be either a phone conversation or online conference to take place this autumn.
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Tsys trading weaker, near lows ahead the NY open, 30YY taps 3.1928% high, amid rather decent volumes: TYZ>325k for a no data day. US FI sold off following higher than expected German PPI (+5.3%, +37.2% YoY due to surge in energy prices); UK retail sale up 0.3% last month, but the cost of those sales increased more rapidly by 1.3%.
  • No economic data Friday, just Richmond Fed Barkin at Maryland county association conference at 0900ET, Q&A expected. Focus on next week's annual Jackson Hole Economic Symposium: Reassessing Constraints on the Economy and Policy on Friday, August 26. Chairman Powell will discuss the Fed's economic outlook at 1000ET (0800 local), text is expected but no Q&A.
  • Treasury auctions resume next week:
    • $44B 2Y notes on Tues,
    • $22B 2Y Note FRN reopen and $45B 5Y Note on Wednesday
    • $37B 7Y Note on Thursday
  • Equity earnings, still some notable announcements next week: Nvidia (NVDA) late Wednesday $508 est, Dell late Thursday $1.636 est
  • Geopol: Japanese Foreign Minister Yoshimasa Hayashi has told Nikkei Business Daily that the Japanese government will look into arranging a meeting between Japanese Prime Minister Fumio Kishida and Chinese President Xi Jinping.
    • According to Nikkei, the meeting would most likely be either a phone conversation or online conference to take place this autumn.