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What to Watch: New Home Sales, Equity Earnings, Tsy Supply

US TSYS
  • Treasury futures trading weaker, near modest overnight lows - but inside Tuesday's range. Limited data ahead with New Home Sales at 1000ET. Earlier, the Mortgage Bankers Association's weekly release showed further deterioration in US housing market activity in the week to Oct 20 as the composite index dropped -1.0%, vs -6.9% prior, to the lowest level since 1995.
  • Fed remains in media blackout in regards to monetary policy - while Fed Chairman Powell is scheduled to make opening remarks introducing 2023 Moynihan Lecture in Social Science and Public Policy (text, no Q&A) at 1635ET.
  • Treasury supply: $26B 2y FRN and $56B 17W Bill auctions at 1130ET followed by $52B 5Y Note (91282CJF9) auction at 1300ET.
  • Q4 Equity earnings continue with another round of positive annc's from Thermo Fisher, Hilton, Owens Corning, T-Mobile, and General Dynamics this morning. Announcing after the close: Mattel Inc, Whirlpool Corp, O'Reilly Automotive, Wyndham Hotels, IBM, Baker Hughes, Sun Communities, Meta Platforms, United Rentals and Raymond James.

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