Morning Juice – US Session Prep

Morning, Traders!
It is Monday the 8th of July, with a quiet start to a week that holds key US inflation data.
Here are some things to look out for today.

Sentiment
Calm returned to markets as traders saw positive implications from an inconclusive French election outcome that still kept the far right at bay. European stocks rose and the euro pared earlier losses.

S&P 500 contracts were barely changed on Monday after the index posted its largest weekly gain since April. US Treasuries have started the week on the back foot, as traders prepare for Federal Reserve Chair Jerome Powell’s congressional appearance and US inflation data this week.

A left-wing alliance received the most votes in French legislative elections over the weekend, but did not obtain enough seats to form a government. That conclusion limits how much any party can do, prompting speculation that President Emmanuel Macron may build a new coalition of the center and center-left.

Docket
11:00 ET
NY Fed Inflation Expectations

11:30 ET
US sells $76 bln 3-Month Bills
US sells $ 70 bln 6-Month Bills

15:00 ET
US Consumer Credit for May
Median Forecast: $9B | Prior $6.403B | Range: $12.4B / $5.1B

Good luck!