January 24, 2023 13:20 GMT
What to Watch: PMIs, 2Y Note Sale, Earnings: TXN, MSFT, COF Late
US TSYS
Inside narrow overnight range, Tsys mildly bid but scaling back late overnight gains, 30YY currently 3.6754% (-.0050), yield curves flatter (2s10s -.800 at -72.736) on
light volume (TYH3 <220k) as much of Asia out for Lunar New Year holidays this week (China, Taiwan Mon-Fri; Vietnam Mon-Thu; Hong Kong Mon-Wed; Singapore and South Korea Mon-Tue).
- Data kicks off at 0830ET (previous, est): Philly-Fed Non Mfg Activity (-12.8 rev, -17.1) followed by S&P Global US Manufacturing PMI (46.2, 46.5), Services PMI (44.7, 45.0) and Comp PMI (45, 47.0) at 0945ET. Rounding up the session: Richmond Fed Mfg Index (1, 5); Bizz Cond (-14, --) at 1000ET.
- Treasury auctions: $34B 52W bill at 1130ET, $42B 2Y Note (91282CGG0) at 1300ET
- Heavy earnings docket this week:
- Tue: MMM ($2.28 EPS), Hal ($0.72 EPS), TRV ($3.44 EPS), GE ($1.93 EPS), JNJ ($1.33 EPS), VZ ($1.56 EPS); after the close: TXN, MSFT, COF
- Wed: ABT, BA, HES, USB, T, GD, FCX, ADP, KMB, IBM, CSX, LEVI, TSLA, STX
- Thu: DOW, LUV, BX, VLO, ADM, WY, INTC, OLN, V
- Fri: AXP, CVX, and CL
169 words