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What to Watch

US TSYS
  • Weekly jobless claims, GDP kicks off this morning's data at 0830ET followed by Pending Home Sales data at 1000ET.
  • Fed speak: Fed Chair Powell reiterated in comments at Bank of Spain conference overnight that majority of Fed officials anticipate two hikes by year end, and sees the need for strengthened supervision and regulation of mid-sized banks. "The bank runs and failures in 2023 were painful reminders that we cannot predict all of the stresses that will inevitably come with time and chance," he said.
  • Recent Atlanta Fed Pres Bostic (non-voter) headlines: "DON'T SEE AS MUCH URGENCY TO MOVE AS OTHERS" but expects "INFLATION TO LAST FOR A LONG PERIOD."
  • Treasury auctions, $70B 4W, $60B 8W bill sales wrap up the week at 1130ET.
  • Focus on Friday data: Personal Income, PCE, Chicago PMI and UofM sentiment wraps up the week.

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