Good Morning Traders!
It is Monday 22nd of May, here are some things to look out for;
Biden and House Speaker Kevin McCarthy are scheduled to meet today to discuss averting a US financial default.
The last few days have been a whirlwind of progress and deadlock as both sides grapple for political advantage, with negotiators meeting for more than two hours Sunday evening in McCarthy’s office
According to Goldman Sachs, the US Treasury's cash reserves would fall below $30 billion by June 8 or 9, the bare minimum required to pay its debt commitments. Meanwhile, US Treasury Secretary Yellen said the US is unlikely to reach mid-June and still be able to pay its bills.
Dow Jones reported that Minneapolis Fed President Neel Kashkari may support holding interest rates at present levels at the Federal Reserve's next meeting in June. Kashkari stated in a separate essay that bank capital requirements should be drastically reduced to help backstop financial institutions in times of turmoil.
10:00 AM ET
Eurozone Consumer Confidence Flash - Median Forecast -16.8 | Prior -17.5 | Range -16/-18.5
11:30 AM ET
US sells $57 bln of 3-Month Bills
US sells $54 bln of 6-Month Bills
8:30 AM ET
Fed's Bullard Speaks - Speaking in a fireside chat at the American Gas Associations Financial Forum. (No Media availability)
10:15 AM ET
ECB's Lane Speaks - Speaking at the Austrian Central Bank conference in Vienna.
ECB's Villeroy Speaks - Speaking at a conference in Paris.
11:05 AM ET
Fed's Barkin & Fed's Bostic Speak - Discussing technology-enabled disruption during a conference hosted by the Richmond Fed. (Text & Q&A To be confirmed)
Fed's Daly Speaks - Speaking at the NABE economic symposium ( Text: No, Q&A: Yes with moderator and audience)
11:30 AM ET
Germany's Chancellor Scholz Speaks
12:30 PM ET
Germany's Fin. Min. Lindner Speaks
1:30 PM ET
ECB's de Cos Speaks
Good Luck Today!