Good Morning, Traders!
It is Friday the 31st of March and here are some things to look out for today.
Short-term maturities are driving the selling in Treasuries, with the two-year yield rising around 4 basis points to 4.16%, its highest level since March 22.
Traders continue to bet on the Federal Reserve raising interest rates by 25 basis points in May before cutting rates by up to 50 basis points by year's end.
As Japan's fiscal year-end flows dominated and haven bids waned amid easing concerns about the global banking sector, the USD/JPY rose as much as 0.8%; the International Monetary Fund said the country's central bank should avoid a premature exit from monetary easing.
European stocks and US equity futures were steady as a global share index headed for a second-straight quarterly gain, highlighting investor optimism in the face of banking turmoil and rising interest rates.
8:30 AM ET
US Consumer Spending MoM - Median Forecast: 0.3% | Prior: 1.8% | Range: 0.6% / -0.2%
US Core PCE Price Index MoM - Median Forecast: 0.4% | Prior: 0.6%
US Core PCE Price Index YoY - Median Forecast: 4.7% | Prior: 4.7% | Range: 4.9% / 4.6%
US PCE Price Index MoM - Median Forecast: 0.3% | Prior: 0.6%
US PCE Price Index YoY - Median Forecast: 5.1% | Prior: 5.4% | Range: 5.2% / 5%
Canadian GDP MoM - Median Forecast: -0.1% | Prior: 0.4% | Range: 0.9% / 0.1%
10:00 AM ET
University Michigan Sentiment Final - Median Forecast: 63.3 | Prior: 63.4 | Range: 65 / 61
11:00 AM ET
ECB's Lagarde Speaks
3:05 PM ET
Fed's Williams Speaks
4:00 PM ET
Fed's Waller Speaks