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What to Watch: Flurry US Data, ECB Policy Annc

US TSYS
  • Following after Wednesday's hawkish hold from the FOMC ("July is live," Chair Powell said), focus turns to ECB policy annc this morning (0915ET). The ECB is expected to hike 25bp and confirm a previous decision to end APP reinvestments in July.
  • The BoJ policy announcement wraps up the week early Friday, no change expected while market expectations have moved away from a potential YCC tweak this week, with July now seen as a more likely window for an adjustment.
  • Flurry of economic data this morning with Weekly Claims, Retail Sales, Empire MFG and Philly Fed business outlooks, Import/Export index, Industrial Production and Capacity Utilization.
  • Treasury supply finished off the week with $65B 4W, $55B 8W bill auctions.

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