Morning Note - July 13, 2021

Good Morning!

Lots of moving parts going on right now. Futures are flat/mixed right now with the 10-yr unchanged at 1.36% heading into the CPI print and earnings season. The market expects inflation to come in at +4.9% yoy. Breakevens are higher, real yields lower pre-market. Keep an eye on commodities following the CPI print. IEA

warned that if OPEC+ do…