Happy Monday everyone.
The pre-market moves today are moderate but eyes are on bonds with yields continuing to move up. US 10s are up 8.4 bps to the best levels of the day and so far that hasn’t led to big US dollar bids but it’s creeping higher, led by USD/JPY.
The highlight this week is the US CPI report but that’s not until Wednesday. For today, there is nothing on the US or Canadian data calendar but we do get a radio appearance from the Fed’s Goolsbee at 1 pm ET and a speech from Kashkari at 7 pm ET. We heard from both of them last week, so I doubt they will be market moving.
Expect some slowdown in markets in the US afternoon today as the eclipse takes place. t will enter continental North America in Mazatlan, in the northwestern Mexican state of Sinaloa, at 11:07am local time (1807 GMT). It will exit the continent on the Atlantic coast of Newfoundland, Canada, at 5:16pm local time (1946 GMT).
For New York, the peak of the eclipse will be 90% at 3:25 pm ET (1725 GMT). I’m right in the path of totality so I’m going to be enjoying whatever kind of cosmic luck that brings.