January 27, 2023 13:09 GMT
What to Watch: Personal Income/Spending Data
US TSYS
Tsys weaker, off late overnight lows, 30YY currently 3.6712% (+.0315), steeper yield curves bumping up against Wed high: 2s10s +2.923 at -66.463. Decent volumes (TYH3 >350k).
- Expected to set the tone ahead next Wed's FOMC policy meeting, markets await latest Personal Spending data at 0830 (prior, est):
- Personal Income (0.4%, 0.2%)
- Personal Spending (0.1%, -0.1%),
- Real Personal Spending (0.0%, -0.1%)
- PCE Deflator MoM (0.1%, 0.0%); YoY (5.5%, 5.0%)
- PCE Core Deflator MoM (0.2%, 0.3%); YoY (4.7%, 4.4%)
- At midmorning:
- Pending Home Sales MoM (-4.0%, -1.0%), NSA YoY (-38.6%, -36.7%) and UofM Sentiment (64.6, 64.6), UofM 1 Yr Inflation (4.0%, 4.0%); 5-10Y (3.0%, 3.0%) at 1000ET.
- Equity earnings winding down for the week, several misses annc'd this morning: Chevron (CVX) $4.09 EPS vs. $4.27 est, American Express (AXP) $2.07 vs. $2.21 est, HCA Health (HCA) $4.64 vs. $4.79 est, Charter Communications (CHTR) $7.69 vs. $8.65 est.
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