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The U.S. Treasuries traded flat Friday as investors wait to watch the country’s core consumer price-led inflation index for the month of September, scheduled to be released today by 12:30GMT, besides the September core retail sales for September due at the same time. Post that, a host of FOMC speeches by Kaplan and Powell will add further direction to the debt market.
The yield on the benchmark 10-year Treasury hovered around 2.32 percent, the super-long 30-year bond yields range-bound at 2.85 percent and the yield on short-term 2-year note also traded flat at 1.52 percent by 10:50GMT.
The monthly core rate is expected to remain unchanged at 0.2 percent m/m, having risen by 0.1 percent m/m or less for the five months through to July. And that should take the annual core rate up to 1.8 percent y/y after four consecutive readings of 1.7 percent y/y. Due to higher gasoline prices, headline CPI is expected to rise 0.6 percent – the most since January – taking the respective annual rate to a six-month high of 2.3 percent y/y, Daiwa Capital Markets reported
Further, the latest figures from the retail sector are expected to show that sales posted solid growth in September. Not least given the impact of those higher gasoline prices, overall sales might well register their strongest monthly gain in more than two years. But even stripping out fuel, retail sales are expected to rise the most since January supported not least by purchases related to the hurricanes.
Additionally, the University of Michigan consumer confidence index for October is expected to remain elevated well within this year’s range, while August business inventory data are also due. FOMC members Rosengren and Evans will speak publicly.
Meanwhile, the S&P 500 Futures traded 0.04 percent higher at 2,550.50 by 10:50GMT, while at 10:00GMT, the FxWirePro's Hourly Dollar Strength Index remained slightly bearish at -98.50 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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