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What to Watch: Multiple Fed Speakers Ahead Friday Blackout

US TSYS
  • Treasury futures trading firmer, off overnight highs with front month 10Y trading 114-16 (+10) vs. 114-20.5 high, yield at 3.5642% (-.0267).
  • Slew of Fed speakers today (Fed enters policy blackout midnight Friday): Fed Gov Waller start off at 1200ET with discussion on financial innovation; Cleveland Fed Mester economic outlook at 1220ET; Dallas Fed Logan and Fed Gov Bowman both at a Fed Listens event at 1500ET. Later this evening, Atl Fed Bostic will discuss regional/national economic conditions at 1700ET, while Philly Fed Harker wraps up with eco-outlook at 1945ET.
  • Weekly jobless claims kicks off economic data at 0830ET, 240k mean estimate vs. 239k prior, as well as continuing claims (1.825M est) and Philly Fed Business Outlook. Existing Home Sales (4.50M est; -1.8% est) and Leading Index (-0.7% est) released at 1000ET.
  • US Treasury auctions wrap up the week with $50B 4W, $45B 8W bill sales at 1130ET, $21B 5Y TIPS auction (91282CGW5) at 1300ET.

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