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What to Watch: Data Picks Up

US TSYS
  • Strong carry-over bid for Tsys this morning after the FOMC held rates steady and acknowledged inflation has eased Wednesday. Tsy 10Y yield has fallen below 4.0% this morning to 3.9301% -- appr 5 month lows as market as markets fully price in the first rate cut at the March 20, 2024 FOMC.
  • Modest pull-back followed recent BOE steady rate annc, guidance unchanged already unwound.
  • Focus turns to flurry of data at 0830ET: Weekly Claims, Retail Sales and Import/Export price index data. Business Inventories follows at 1000ET.
  • US Treasury auctions $80B each in 4W and 8W bills at 1130ET.

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