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What to Watch: US Data, Fed Speak, Incoming Supply, Month End Positioning

US TSYS
  • Treasury futures trading firmer, paring gains after the bell to near middle of the overnight range. Volumes are moderating quarterly futures roll from March to June throttles back: 10s over 85% complete ahead Thursday's First Notice when June takes lead.
  • Pick-up in economic data this morning with Durables and Cap Goods at 0830ET, followed by House Price data at 0900ET. Consumer Confidence at 1000ET followed by regional data from Richmond Fed at 1000ET and Dallas Fed Services at 1030ET.
  • Scheduled Fed speaker: Gov Barr on counterparty credit risk, text, livestreamed at 0905ET.
  • US Treasury auctions resume: $80B 42D CMB Bills at 1130ET followed by $42B 7Y Notes (91282CKC4) at 1300ET.
  • Corporate bond issuance remains heavy after nearly $30B priced Monday, total for the month over $216B so far, still less than January's $295B with three more days to go until month end.

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