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What to Watch: Data Picks Up; Month End Rebalancing; Fed-Speak

US TSYS
Tsys weaker into the opening bell, knock-on selling from EGBs after higher than expected French and Spanish inflation metrics.
  • Pick-up in US Data releases today:
    • 0830ET: Advance Goods Trade Balance (-$89.7B rev, -$91.0B); Wholesale Inventories MoM (0.1%, 0.2%); Retail MoM (0.5%, 0.1%)
    • 0900ET: House Price Purchase Index QoQ (0.1%, --); FHFA House Price Index MoM (-0.1%, -0.2%); S&P CoreLogic CS 20-City MoM SA (-0.54%, -0.40%); S&P CoreLogic CS 20-City YoY NSA (6.77%, 4.75%)
    • 0945ET: MNI Chicago PMI (44.3, 45.5)
    • 1000ET: Richmond Fed Mfg. Index (-11, -5), Business Cond (-10, --); Conf. Board Consumer Confidence (107.1, 108.5); Dallas Fed Services Activity (-15, --) at 1030ET
  • Lone scheduled Fed speaker: Chicago Fed Goolsbee, Ivy Tech Comm College, text, no Q&A 1430ET.
  • Traders will be alert to month-end portfolio rebalancing later in session.

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