Pendulum Slows“”For Now: 10-Year Treasury Auction, Stimulus Vote Straight Ahead

Pendulum Slows“”For Now: 10-Year Treasury Auction, Stimulus Vote Straight Ahead

After yesterday's dramatic "turnaround Tuesday," the pendulum seems to be slowing a bit this morning. Plenty of potential catalysts jump into the pool today, so we'll see what they bring. For now, there's just not much direction. The week moves ahead with today's closely watched consumer price index (CPI) for February and a final wrap-up of the fiscal stimulus. The House is expected to vote on the $1. 9 trillion package today. We've been talking about it for months, and now we'll likely see it in action. CPI came in at 0. 4%“”in line with analysts' estimates. Core CPI, which strips out energy and food, rose just 0. 1%. This is probably going to calm down some of the inflation concerns, at least for the moment. Both readings were higher than in January, but not by much. Stocks appeared to gain a little momentum in pre-market trading once traders saw the data, with the major indices turning positive after some weakness earlier. On the bond side of things, investors are likely to focus on a $38 billion auction of 10-year Treasuries later today. The 10-year yield rose slightly to around 1. 56% this morning, and every step higher lately seems