Futures Tumble On Rising Fed Fears, Geopolitical Tensions -ZH
ZH offers a very robust overnight recap — Futures Tumble On Rising Fed Fears, Geopolitical Tensions — which contains some calendar stuff
US Event Calendar
8:30am: Dec. Chicago Fed Nat Activity Index, prior 0.37
9:45am: Jan. Markit US Manufacturing PMI, est. 56.6, prior 57.7
9:45am: Jan. Markit US Composite PMI, prior 57.0
9:45am: Jan. Markit US Services PMI, est. 54.8, prior 57.6
a rates recap,
… In rates, Treasuries curve were flatter with long-end yields richer by at least 2bp while front-end of the curve continues to lag ahead of Wednesday’s Fed policy decision and auction cycle beginning with 2-year note sale at 1pm ET. Five-and 7-year auctions follow later this week. U.S. 10-year yields around 1.73%, down 2.5bp vs Friday’s close, lag gilts slightly while keeping pace with bunds; with front-end lagging, 2s10s spread approached 70bp, lowest since December 2020, while 5s30s breached 50bp. U.S. Treasury auctions cycle comprises $54b 2-year note, $55b 5-year note Tuesday and $53b 7-year notes Thursday. WI 2-year yield at ~1.050% is higher than auction stops since February 2020 and ~28bp cheaper than last month’s, which tailed by 0.6bp. IG dollar issuance slate expected to be moderate this week, with desks calling for around $20b as more companies emerge from earnings blackout periods.
And ends with DBs early morning REID … any/all interested should check it out