Morning Juice – US Session Prep (12th September)

Sentiment
The dollar climbed, with sentiment supported by a decline in global equity prices. Treasury yields rose a little. The 10-Yr Treasury yield edged up 2 BPS to 4.04% after declining to a 5-month low on Thursday. It still kept on course for a 4th week of losses, the longest streak since February; the rate-sensitive 2-Yr yield edged up 1 BPS to 3.55%

Traders have nearly fully priced in a 25 BPS cut at each of the remaining meetings this year, according to swaps data. Jobless Claims and in-line CPI data on reinforced bets that the Fed will cut by 25 BPS next week, and an additional 50 BPS of easing by the end of the year.

Docket
10:00 ET
University Michigan Prelim for September
Sentiment – Forecast: 58 | Prior: 58.2 | Range: 61 / 55
1 Year Inflation – Forecast: 4.8% | Prior: 4.8% | Range: 4.9% / 4.5%
5 Year Inflation – Forecast: 3.4% | Prior: 3.5% | Range: 3.6% / 3.1%

Speakers
8 AM ET
Trump Speaks with ‘Fox and Friends’

Good Luck!