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What to Watch: Fed Speak, Pending Home Sales, Tsy Auctions

US TSYS
  • Treasury futures are currently trading mildly higher, stocks making modest gains (SPX Eminis +32.0) as concerns over regional banks continues to gradually subside.
  • Front month Treasury futures are near the middle of a comparatively narrow overnight range compared to levels over the last couple weeks, generally calm ahead light data today with Pending Home Sales MoM (-3.0% est vs 8.1%prior) at 1000ET.
  • Fed-Speak: NY Fed Supervision head Dianne Dobbeck will answer questions at a Bankers Assn event at 0805ET while Vice Chairman continues to make the rounds with remarks community reinvestment act at 0830ET and again at 1000ET at a House Financial Services Panel testimony.
  • Unconfirmed, some wires report Fed Chairman Powell will attend a GOP lunch today, citing a GOP, to discuss the debt limit, budget and banking issues.
  • US Treasury auctions: $22B 2Y Note FRN (91282CGF2) and $36B 17W Bill auctions at 1130ET; $35B 7Y Note auction (91282CGS4) at 1300ET.

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