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What to Watch: Nov PPI Lead-Up to Next Wk's CPI, FOMC

US TSYS

Tsy futures trading mildly higher, near low end overnight range on modest volumes (TYH3<200k) as market awaits latest PPI data for signs of inflation ahead CPI for Nov next Tue (MoM 0.3% est, 7.3% YoY) and final FOMC of 2022 Wed afternoon.

    • PPI Final Demand MoM (0.2%, 0.2%); YoY (8.0%, 7.2%)
    • PPI Ex Food and Energy MoM (0.0%, 0.2%); YoY (6.7%, 5.9%)
    • PPI Ex Food, Energy, Trade MoM (0.2%, 0.1%); YoY (5.4%, 4.7%)
    • Followed by U. of Mich. Sentiment (56.8, 56.9) at 1000ET
    • U. of Mich. Current Conditions (58.8, 58.8)
    • U. of Mich. Expectations (55.6, 54.5)
  • Geopol: TASS-Russian & US Representatives To Meet In Istanbul: Russian state-run TASS reporting that according to a source Russian and US representatives are set to meet in Istanbul, Turkey on Friday.
    • If confirmed, the meeting would be one of the few between US and Russian officials since the invasion of Ukraine was launched in February.

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