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What to Watch: Fed Chair Powell Policy Panel at ECB Policy Forum

US TSYS
  • Treasury futures trading firmer, Sep'23 10Y futures off recent high of 113-02.5 to 112-31 (+4.5); moderate summer volumes (TYU3 <255k) as markets await latest round of data: Retail/Wholesale Inventories and Advance Goods Trade Balance at 0830ET.
  • Focus on ECB Central Bank Forum underway in Sintra. Fed Chair Powell, ECB Lagarde, BOJ Ueda and BOE Bailey on policy panel event at 0930ET. LINK
  • Later this afternoon, the Federal Reserve Board annual bank stress tests results will be tomorrow afternoon at 1630ET.
  • Treasury auctions continue: $22B 2Y FRN and $46B 17W Bill auctions at 1130ET, $35B 7Y Note auction (91282CHJ3) at 1300ET.
  • Month/quarter end extension trade expected ahead upcoming Independence day holidays (early close next Monday, markets closed Tuesday, July 4).

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