HALISTER1: U.S. ECO PREVIEW: Personal Income/Spending Due in 5 Minutes

U.S. ECO PREVIEW: Personal Income/Spending Due in 5 Minutes

(Bloomberg) -- Personal income seen rising 0.1% in Feb. after increasing 0.5% in Jan. (forecast range -0.1% to +0.3%); tracks wages and salaries, investment and rental income, transfer payments.
  • Personal spending seen rising 0.1% in Feb. after rising 0.5% in Jan. (forecast range -0.2% to +0.3%); tracks spending on goods and services, is used to calculate GDP
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: UST MORNING CALL: Bonds ‘Correctly Sensitive to Core PCE’

UST MORNING CALL: Bonds ‘Correctly Sensitive to Core PCE’

(Bloomberg) -- “Bonds will be correctly sensitive to core PCE that is expected to bump from 1.7% in January to 1.8%,” and “watch for yields to rally a bit if either consumption or prices don’t meet expectations,” FTN strategist Jim Vogel says in note.
  • Other observations from strategist morning notes:
  • CRT (David Ader): “As we leave last week behind perhaps the most striking element was of a hawkish lean by heretofore dovish members of the FOMC (Evans) and a hawkish lean by members who’ve played both sides of the coin (Bullard)”
    • “We certainly listen to this sort of nuance, make no mistake, but we don’t take it all too much to heart”
  • Marty Mitchell (independent): “We should expect that trading will remain thin with many in the US probably extending the long weekend too and others expected to be unwilling to do too much in advance of Yellen and the payroll report”
  • Seaport Global (Tom di Galoma): “With month-end extensions coming rapidly this week look to buy dips on 10yrs near the 1.95% yield level”
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
David Ader (CRT Capital Group LLC)
Jim Vogel (Ftn Financial)
Marty Mitchell (The Mitchell Market Report LLC)
Tom Di Galoma (Seaport Group LLC/The)

Topics
UST Morning Call

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UUID: 7947283

HALISTER1: 2Y Auction ‘Will Be Underwritten With Relative Ease,’ JPM Says

2Y Auction ‘Will Be Underwritten With Relative Ease,’ JPM Says

(Bloomberg) -- UST 2Y yields increased by 11bp since last auction, are about 4bp “too high given their fundamental drivers,” JPMorgan strategists led by Jay Barry say in note.
  • Also, curve front end “continues to offer attractive carry,” and $26b auction at 1pm ET “represents a relatively small amount of duration supply”
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Jay Barry (JPMorgan Chase & Co)

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UUID: 7947283

HALISTER: Buffett’s Wells Fargo Stake Nears 10% Level Requiring Fed Review

Buffett’s Wells Fargo Stake Nears 10% Level Requiring Fed Review

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
BRK/A US (Berkshire Hathaway Inc)
WFC US (Wells Fargo & Co)
AXP US (American Express Co)

People
Warren Buffett (Berkshire Hathaway Inc)
Kenneth Chenault (American Express Co)
Mary Eshet (Wells Fargo & Co)

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UUID: 7947283