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What to Watch: Data Deluge, ECB Rate Annc, Tsy Auctions

US TSYS
  • Deluge of early data this morning, weekly claims, GDP, PCE, Durables/Cap Goods, Wholesale/Retail Inventories all at 0830ET. Small respite before Pending Home Sales at KC Fed MFG figures delivered at 1000ET.
  • Treasury wraps up the week's supply with $70B 4W, $60B 8W Bill auctions at 1130ET, $35B 7Y Note auction (91282CHR5) at 1300ET.
  • FI markets weaker at the moment, scaling back early overnight gains as rates take FOMC messaging: "additional policy firming necessary" to heart.
  • ECB announcement up next at 0815ET, 25bp hike anticipated.

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