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What to Watch: Retail Sale, PPI, Fed Speak, Equity Earnings

US TSYS

Tsys firmer, near early overnight highs after gap bid on BoJ policy annc: monetary policy settings steady, yield curve control unchanged. 30YY currently 3.5996% -.0610 vs. 3.5832% low, yield curves scale back Tue's bear steepening (2s10s -3.863 to -70.206). Heavy session data kicks off at 0830ET (prior, est) w/

  • Retail Sales Advance MoM (-0.6%, -0.9%); Ex Auto MoM (-0.2%, -0.5%);
  • PPI Final Demand MoM (0.3%, -0.1%); YoY (7.4%, 6.8%)
  • Ind Production MoM (-0.2%, -0.1%); Cap-U (79.7%, 79.5%) at 0915ET
  • Later in session: Business Inventories, Housing Market Index, Fed Beige Book, and TIC flows after the bell.
  • US Tsy auctions: $36B 17W bills at 1130ET, $12B 20Y reopen (912810TMO1) at 1300ET
  • Fed Speakers:
  • Atl Fed Bostic open remarks at 0900ET
  • StL Fed Bullard at 0930ET: WSJ live event
  • Philly Fed Harker eco-outlook at 1400ET
  • Dallas Fed Logan speaks at moderated Q&A, 1700ET
  • Equity earnings: Charles Schwab ahead the open; after the close: Alcoa (AA), Discover Fncl (DFS), Kinder Morgan (KMI).

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