A three-year note auction highlights a light US economic calendar

<p>Happy Monday.</p><p>The Fed blackout went into effect on Saturday but we <a href="https://www.forexlive.com/centralbank/wsj-fed-insider-says-an-important-shift-in-fed-officials-rate-stance-is-under-way-20230910/" target="_blank" rel="follow">did hear </a>from Nick Timiraos, who wrote what everyone already knows: That a pause is coming in Sept and that some officials see risks as balanced while others are still hawkish.</p><p>I wouldn't expect any of those opinions to shift today with a near-bare <a href="https://www.forexlive.com/EconomicCalendar" target="_blank" rel="follow">economic calendar</a>. One item of note is a $44-billion, three-year note auction at 1 pm ET. That's ahead of a busy week of US supply, including some corporate deals that could crowd the space.</p><p>Another tidbit to watch will be the NY Fed's 1-year inflation expectations survey. The most-recent <a href="https://www.forexlive.com/centralbank/ny-fed-july-survey-shows-1-year-inflation-expectations-lowest-since-april-2021-20230814/" target="_blank" rel="follow">number </a>was 3.5%.</p>

This article was written by Adam Button at www.forexlive.com.