More Important for Markets: Situational Awareness or the 10 Year Treasury Yield?
What’s in Today’s Report:
- What’s More Important for Markets: Situational Awareness or the 10 Year Treasury Yield?
- Weekly Market Preview: Can Economic Data and Falling Geopolitical Tensions Push Yields Lower?
- Weekly Economic Cheat Sheet: The “Big Three” Monthly Reports this Week.
Futures are modestly higher on a drop in oil prices as President Trump announced over the weekend that the U.S. and Iran were again close to a ceasefire agreement.
On Saturday President Trump called off the threatened strikes on Iran, citing progress towards a ceasefire and oil is down 5% on the news.
Economically, EU and UK manufacturing PMIs generally met expectations and were both above 50 (51.9).
Today focus will be on the ISM Manufacturing PMI (E: 54.0) and, like all reports this week, investors will want to see a Goldilocks reading of 1) Solid headline growth (so comfortably above 50) and 2) Stability in the price index (so no big jump).
On earnings, the peak of the Q2 season has passed but there are still important reports to watch. Notable earnings today include: MAR ($3.06), PLTR ($0.28) and ON ($0.72).
