Morning Juice – US Session Prep

Morning, Traders!
It is Tuesday the 22nd of October. With no noteworthy US economic indicators, we have a day dominated by central bank speakers. Here are some things to look out for today.

Sentiment
US stock futures fell and Treasuries held steady after Monday’s selloff as traders speculated on the path of US interest rates.

Earnings season continued for corporate America this morning, with overall postitive results from the likes of General Motors, Verizon, Lockheed Martin, and 3M causing a bounce in the US indexes futures premarket.

Overall though, contracts on the S&P 500 retreated, and Europe’s stock benchmark fell, led by the real estate and utilities sectors, which typically suffer when borrowing costs rise.
The 10-year Treasury yield rose one basis point to 4.21%, following an 11-basis-point increase earlier this week.

Investors are lowering their expectations for Fed rate cuts after central bank officials indicated a preference for slower rate reductions.
The inflationary impact of a possible Donald Trump presidential victory is also being considered, given that his promised tax cuts and trade tariffs may ultimately result in higher rates.

Speakers
09:00 ET
ECB’s Centeno speaks on inflation convergence at an event organized by the Peterson Institute for International Economics.

09:05 ET
ECB’s Knot Speaks in New York

09:25 ET
BOE Governor Andrew Bailey gives the keynote address at the Bloomberg Global Regulatory Forum in New York.

09:45 ET
ECB’s Holzmann Participates in a Bloomberg Panel.
BoE’s Greene speaks in a fireside chat at the Atlantic Council.

10:00 ET
Fed’s Harker speaks at the Eighth Annual Fintech Conference Hosted by the Federal Reserve Bank of Philadelphia. Text is expected, but no Q&A.
ECB’s President Lagarde speaks on Bloomberg TV.

11:00 ET
ECB’s Lane takes part in a fireside chat at the Central Banking Seminar of the Federal Reserve Bank of New York

13:00 ET
ECB’s Villeroy speaks at NYU

14:00 ET
ECB’s Rehn speaks in Washington at the PIIE Macro Week event.

15:15 ET
ECB President Lagarde, and Governing Council member Panetta participate in a panel discussion on ‘The future of cross-border payments: faster safer together – safe and inclusive fast payments across borders’ during IMF/WB Annual Meetings in Washington.

16:00 ET
ECB’s Lane gives a speech at a seminar organized by Columbia University.

16:15 ET
BoE’s Breeden speaks on a panel about cross-border payments in Washington.

Good luck!