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What to Watch: MNI Chicago PMI Wraps Up 2023 Data

US TSYS
  • Wrapping up 2023 data: December reading of the Chicago Purchasing Managers Index scheduled at 0945ET.
  • No scheduled Fed speakers, but the December FOMC minutes will be released next week Wednesday at 1400ET.
  • CME Group trading floor closes at 1300ET Friday for the New Years Holiday, while Globex closes at it's normal time of 1600ET (re-open at 1600ET next Monday instead of normal Sunday open).
  • Cash Tsys holding weaker on moderate overnight volumes: March'24 10Y (TYH4) over 216k. Near overnight lows, TYH4 is currently -6 at 112-22.5 vs. 112-20 low. Curves steeper in the short end: 3M10Y +4.464 at -150.651, 2Y10Y +1.245 at -42.203.
  • Initial technical support well below at 111-31+/111-20 (Low Dec 14 / 20-day EMA); resistance above at 113-12.5, a Fibonacci projection point (1.764 proj of the Oct 19 - Nov 3 - Nov 13 price swing).

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