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What to Watch: PPI, FOMC

US TSYS
  • Focus on PPI data for November at the bottom of the hour (MoM 0.0% est, YoY 1.0%). Tsy futures stronger, nearing pre-NFP levels with TYH4 tapping 110-23 recently (10YY 4.1757% low). Curves flatter with short end lagging (3M10Y -4.572 at -124.216, 2Y10Y -.173 at -53.404).
  • Tsy auctions $56B 17W bills at 1130ET before the FOMC policy announcement including Summary of Economic Projections at 1300ET. Fed Chairman Powell press conference follows at 1430ET.
  • US Pres Biden to deliver remarks to National Infrastructure Advisory Council at 1215ET.

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