What to Watch: Jan CPI Seasonal Factors Recalc'd, UofM Sentiment

Yield curves seeing some steepening relief this morning after 2s10s fell to lowest inverted levels in 40 years yesterday (-87.193), currently +2.550 at -80.279. Tsys trading moderately lower w/ focus on BLS release of Jan CPI recalculated seasonal adjustment factors "to reflect price movements from the just-completed calendar year."

• BLS: Jan CPI revised indexes and seasonal factors will be available at Seasonal Adjustment in the CPI. CPI can be contacted after 8:30ET.
• Midmorning data at 1000ET: U. of Mich. Sentiment (65.0, 64.9 prior), Current Conditions (68.5, 68.4 prior), Expectations (63.1, 62.7), 1 Yr Inflation (4.0%, 3.9% prior); 5-10Y (steady at 2.9%)
  
• Later this afternoon, Monthly Budget Statement (-$55.0B est) at 1400ET
  
• Fed speakers at a crypto currency conference: Fed Gov Waller speaks at 1230ET, Philly Fed Harker at 1600ET.
• Gepol: Major Missile Attack Reported, Concerns Of Russia Offensive Mount: Air raid sirens have sounded across the whole of Ukraine as Russia launches a massive missile barrage. Reports of explosions in Kyiv, Kharkhiv, Kremenchuk as well as at the Zaporizhzhia nuclear power plant on wires.