It will be another quiet day in terms of data, as many official releases in the US still face delays despite the government having reopened – the originally scheduled retail sales and PPI for October should still be impacted. More focus will be on Fed speakers after the hawkish tones of late have also pressured front-end rates higher. Schmid and Logan, two hawkish-leaning Fed members, are scheduled to speak today alongside Bostic.
The eurozone will release final October CPI data for Spain and France, as well as the second estimate for third-quarter GDP growth. Among the ECB officials speaking today, chief economist Lane should be the most watched.
There is no government bond supply scheduled for the day. The European sovereign ratings scheduled for review and possible updates after markets close are Cyprus (S&P, A-/Stable), Greece (Fitch, BBB-/Positive) and Portugal (Moody’s, A3/Stable).