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What to Watch: ISMs, UofM Sentiment, More Fed Speakers

  • Tsys looking mixed, well off recent highs, curves steeper as Bonds reverse gains. Troubled New York Community Bancorp contributed some carry-over short end support after the bank reported "material weakness" in internal loan review and controls late Thursday. Otherwise, little react to Eurozone PMI data overnight.
  • Currently, Tsy Jun'24 10Y futures trade -1.5 to 110-12.5 vs. 110-23.5 high, 2s10s +1.206 at -35.857, 10Y yield +.0139 at 4.2641%.
  • Flurry of midmorning data kicks off with S&P Global US Mfg PMI at 0945ET. Flash ISM, Construction Spending and UofM sentiment/inflation expectations follow at 1000ET. KC Fed Services Activity wraps things up at 1100ET.
  • Busy Fed speaker schedule:
    • Mar-01 1000 Chicago Fed Goolsbee on CNBC at 1000ET
    • Fed Gov Waller & Dallas Fed Logan moderated discussion on QT at 1015ET
    • Atl Fed Bostic economic outlook at 1215ET
    • SF Fed Daly & KC Fed Schmid discussion on AI & labor mkt at 1330ET
    • Fed Gov Kugler moderated discussion on Fed mandate, Livestreamed at 1530ET
    • Chicago Fed Goolsbee returns at 1600ET with interview on Fox News.
    • Richmond Fed Barkin on CNBC at 0830ET

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