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What to Watch: CPI, Fed Speakers Ahead March FOMC Minutes, 10Y Re-Open

US TSYS
  • Front month Treasury futures trading weaker, off recent lows as markets await March CPI data at the bottom of the hour.
  • Core CPI inflation is widely seen printing its fourth consecutive 0.4% handle after February’s 0.45% M/M.
  • Monthly core CPI should be lifted by a large decline for used car prices dropping out whilst there is broader uncertainty for airfares after prior surprising strength.
  • Fed speakers prior to the March FOMC minutes this afternoon include Richmond Fed Barkin annual conf on investing at 0900ET and again at 1030ET on CNBC. SF Fed Daly, moderate Q&A Salt Lake CoC at noon.
  • US Treasury auctions: $36B 17W bill at 1130ET, $32B 10Y Note re-open at 1300ET

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