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The U.S. Treasuries continued into flat mode Monday ahead of a host of FOMC members’ speeches through the day, including that of Bostic, Williams, and Rosengren. Also, investors will be eyeing the 3-year and 10-year note auctions, scheduled on January 9 and 10 respectively for further insight into the bond market.
The yield on the benchmark 10-year Treasuries hovered around 2.47 percent, the super-long 30-year bond yields nearly flat at 2.80 percent and the yield on the short-term 2-year steadied at 1.96 percent by 11:25GMT.
In the US, the most important data releases are out on Friday, when December CPI and retail sales figures are due. CPI and core CPI are both expected to rise 0.2 percent m/m. If so, the annual pace of CPI inflation would inch back down slightly having risen to 2.2 percent y/y in November while the annual core rate would remain at 1.7 percent y/y.
In addition, expectations for retail sales growth are 0.4 percent m/m, half the pace seen in the previous month. Ahead of the CPI release, we will receive more price indicators – the import price index for the same month is due on Wednesday, while PPI data are due on Thursday. Among other figures worth watching are consumer credit (today), the NFIB small business sentiment survey, JOLTS job openings (both Tuesday), wholesale trade (Wednesday), Federal budget (Thursday) and business inventories (Friday).
Lastly, a number of the FOMC members are scheduled to make public appearances in the coming week, including Dudley, Williams, Evans, and Kashkari.
Meanwhile, the S&P 500 Futures traded flat at 2,742.25 by 11:30GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -0.29 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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