Good Morning Traders!
It is Monday 15th of May, today is packed with Fed speakers, but here's what else to expect:
Sentiment
Biden and House Speaker McCarthy will soon provide the clearest indication yet of whether a deal to avoid a historic US default can be reached.
Biden's staff negotiations with McCarthy's office on a spending package to avoid a US default are serious and ongoing, according to National Economic Council Director Lael Brainard, who reiterated calls for Congress to raise the debt ceiling.
Following the March failures of Silicon Valley Bank and Signature Bank, Federal Reserve rate setters have become increasingly divided on the projected path of monetary policy. Economists predict that if Biden's nomination of Adriana Kugler to the Fed Board of Governors is confirmed by the Senate, those fault lines will widen over the rest of the year.
Docket
08:15 AM ET
Canadian House Starts, Annualized - Median Forecast 220K | Prior 213.9K | Range 235K/194K
11:30 AM ET
US Sells 57 bln of 3-Month Bills
US Sells $51 bln of 6-Month Bills
Speakers
08:45 AM ET
Fed's Bostic Speaks
09:15 AM ET
Fed's Kashkari Speaks
12:00 PM ET
BoE's Pill Speaks
12:30 PM ET
Fed's Barkin Speaks
2:00 PM ET
Fed's Bostic Speaks
3:00 PM ET
Fed's Bostic Speaks
5:00 PM ET
Fed's Cook Speaks
Good Luck Traders!
