US: 14:00ET/19:00BST: White House Press Conference
Jul-21 15:23
White House Press Secretary Karine Jean-Pierre will hold an ad hoc press briefing at 14:00 ET 19:00 BST today following President Joe Biden's positive COVID-19 test.
- A livestream of the briefing will be available here: https://www.whitehouse.gov/live/
- Jean-Pierre will be joined by COVID Response Coordinator Ashish Jha.
- President Biden was scheduled to deliver remarks on the Bipartisan Safer Communities Act from Wilkes-Barre, Pennsylvania this afternoon but all travel has been cancelled until the President tests negative for COVID-19, in line with White House protocol.
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US TSYS: Market Roundup: Hike Fast, But Don't Break Anything: Barkin
Jun-21 15:10
US Tsy yields see-saw higher upon return from Juneteenth holiday Tuesday, 30YY off morning high of 3.3860% at 3.3593% (+.0798) w/ futures near middle of first half range.
- Yield curves bear steepening, but still well off pre-FOMC levels: 2s10s +4.775 at 8.641, 5s10s still inverted at -8.801 (3.172) but well off early low (-12.223).
- Limited impact from data: Existing Home Sales for May in-line: -3.4% TO 5.41M SAAR; Chicago Fed National Activity Index 0.01 vs. 0.47 expected, 0.4 prior. Attention turns to Richmond Fed Barkin as he takes part in virtual moderated Q&A session w/ NABE at the top of the hour: "need to raise rates fast .. without breaking anything", sounds professional.
- US 10Y futures TYU2, trade -8.5 at 115-29.5 last vs. 115-22.5 low on heavier volume (>940k). Despite the recovery from last week’s low of 114-07+, the trend needle in Treasuries still points south.
- Last week’s break of key support at 116-21, May 9 low, confirmed a resumption of the primary downtrend and maintains the bearish price sequence of lower lows and lower highs. The move lower opens 114-00 next. Firm resistance is seen at 117-12, the 20-day EMA. A stronger bounce would be considered corrective.
- Stocks posting decent gains, SPX eminis +103.0 at 3778.75; oil up, WTI +2.57 at 112.12; Gold steady at 1838.75.
US TSYS: Richmond Fed Barkin Up Next
Jun-21 14:48
Fed speakers coming up:
- Richmond Fed Barkin moderated Q&A at NABE conf, 1100ET
- Cleveland Fed Mester, Women in Leadership conf, no text, Q&A, 1200ET
- Richmond Fed Barkin, Risk Mgmt Assc speach, text, Q&A, 1530ET
EGB OPTIONS: Bund Call Fly Buying
Jun-21 14:42
RXU2 147/151/155 call fly bought for 58 in 6k
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