PPI and a 10-year auction highlight the US calendar

What's coming up

It's inflation week in the US with PPI today and CPI tomorrow. The PPI data isn't usually a market mover but these aren't usual times. The Fed has beaten back inflationary worries for the moment but a pair of hot numbers will put them back on the defensive.

PPI is forecast to rise 8.7% y/y, up from 8.6% previously (shown above).

Another spot to watch is the EIA short-term energy outlook report at noon ET. It could be the cover or precursor for the US to tap the SPR or announce whatever Biden has been hinting at to bring down the price of oil.

At 1 pm ET, the US Treasury will sell 10-year notes at auction. They're currently trading down 3.36 bps to 1.4636%.

The central bank speaker calendar is busy but much of it is coming from a conference on diversity and inclusion, so the comments might be along those lines (all times ET):

• 9 am - Powell
• 11 am - ECB's Schnable
• 11:35 am - Fed's Daly
• 12:10 am - BOC's Baudry
• 1:30 pm - Kashkari
• 5:45 pm - Macklem
  

For more, see the economic calendar .

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November 10, 2021 at 01:19AM
Adam Button
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