Lately, the economic calendar is the main driver of the markets and I think this will be even more true in the coming days as we get closer to the PCE report.
There’s not much exciting going on today, but the Richmond Fed and Williams could be market movers. The Richmond data is at 10 a.m. ET and is followed by the Dallas Fed’s Services Sector Survey 30 minutes later. Williams speaks at 1:45 p.m. ET during a panel discussion while we hear from Bostic again at 7 p.m. ET.
Another point to watch is that of bonds: two bad auctions yesterday led to a massive sell-off in fixed income securities which sent the dollar higher. Today, seven-year tickets sell out at 1 p.m. ET.
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