The US economic calendar is essentially bare today. At the bottom of the hour we will hear from Richmond Fed President Thomas Barkin at a Rotary function. At 9 am ET (2 pm in London), Bank of England governor Andrew Bailey is set to speak.
There will be eyes on bonds at 1 pm ET with the auction results of a 10-year sale. Currently, on-the-run 10s are trading down 6.9 bps to 2.920%.
The main event this week is tomorrow's US CPI report, in which core is forecast at 5.7% from 6.0% y/y in May. The m/m core reading is seen at 0.6% but the July number is increasingly likely to be negative as gasoline prices fall. Crude is down a further $4.66 today.
